Arizona State Retirement System Has $7.68 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Arizona State Retirement System grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,950 shares of the business services provider’s stock after buying an additional 91 shares during the period. Arizona State Retirement System’s holdings in Broadridge Financial Solutions were worth $7,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Adero Partners LLC increased its position in shares of Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 46 shares during the period. Avestar Capital LLC increased its holdings in shares of Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after acquiring an additional 48 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after purchasing an additional 52 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Broadridge Financial Solutions by 5.5% during the 4th quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 57 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 1.5 %

Shares of NYSE:BR opened at $241.30 on Friday. The stock has a market capitalization of $28.24 billion, a PE ratio of 37.76 and a beta of 1.05. The company’s 50-day moving average price is $235.05 and its two-hundred day moving average price is $225.07. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Insider Buying and Selling

In other news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,441 shares of company stock worth $1,547,835. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.