Maryland State Retirement & Pension System Sells 418 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Maryland State Retirement & Pension System trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,252 shares of the business services provider’s stock after selling 418 shares during the period. Maryland State Retirement & Pension System’s holdings in Broadridge Financial Solutions were worth $1,414,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Qsemble Capital Management LP bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $1,412,000. Horizon Kinetics Asset Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Broadridge Financial Solutions by 121.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after purchasing an additional 6,336 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Down 0.3 %

Broadridge Financial Solutions stock opened at $233.03 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 36.47 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The business has a fifty day moving average price of $236.05 and a 200-day moving average price of $226.73.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BR. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group raised their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $239.17.

About Broadridge Financial Solutions

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.