California Public Employees Retirement System Sells 6,961 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

California Public Employees Retirement System trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 531,647 shares of the business services provider's stock after selling 6,961 shares during the quarter. California Public Employees Retirement System owned about 0.45% of Broadridge Financial Solutions worth $120,200,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BR. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock worth $2,434,000 after acquiring an additional 3,753 shares in 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 period. Y Intercept Hong Kong Ltd grew its position in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider's stock worth $2,486,000 after buying an additional 6,336 shares during the period. Park Place Capital Corp boosted its holdings in Broadridge Financial Solutions by 31.3% in the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider's stock worth $1,318,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Broadridge Financial Solutions by 6.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider's stock worth $7,633,000 after purchasing an additional 2,279 shares during the period. 90.03% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BR shares. StockNews.com cut shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Tuesday. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, UBS Group lifted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $241.00.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Down 2.2 %

NYSE:BR traded down $5.41 during trading hours on Thursday, hitting $240.84. The company had a trading volume of 322,626 shares, compared to its average volume of 512,789. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $249.31. 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 50-day moving average price of $237.66 and a 200 day moving average price of $228.36. The company has a market capitalization of $28.18 billion, a PE ratio of 37.73 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 period last year, the company posted $0.92 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Broadridge Financial Solutions 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.