Public Employees Retirement Association of Colorado Sells 1,080 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Public Employees Retirement Association of Colorado lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,829 shares of the business services provider’s stock after selling 1,080 shares during the period. Public Employees Retirement Association of Colorado owned 0.11% of Broadridge Financial Solutions worth $27,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BR. Price T Rowe Associates Inc. MD boosted its stake in Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after purchasing an additional 28,180 shares during the last quarter. Magnetar Financial LLC bought a new position in Broadridge Financial Solutions in the first quarter valued at about $3,944,000. Lazard Asset Management LLC grew its stake in shares of Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 168 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Broadridge Financial Solutions by 274.6% in the 1st quarter. 1832 Asset Management L.P. now owns 18,745 shares of the business services provider’s stock worth $3,840,000 after purchasing an additional 13,741 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Broadridge Financial Solutions by 97.2% in the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock worth $21,689,000 after acquiring an additional 52,171 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of NYSE:BR traded down $0.48 on Monday, hitting $212.15. 125,572 shares of the company’s stock were exchanged, compared to its average volume of 502,128. The business’s 50 day simple moving average is $200.77 and its two-hundred day simple moving average is $200.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 36.29 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 12 month low of $164.99 and a 12 month high of $214.46.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Finally, DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $206.67.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.