New York State Teachers Retirement System Sells 5,226 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Teachers Retirement System lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,406 shares of the business services provider's stock after selling 5,226 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Broadridge Financial Solutions worth $20,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Bogart Wealth LLC grew its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock worth $26,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC grew its stake in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC grew its stake in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $38,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $41,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded down $2.80 on Thursday, hitting $236.14. The company's stock had a trading volume of 438,837 shares, compared to its average volume of 464,859. The company has a 50-day simple moving average of $232.75 and a 200 day simple moving average of $223.09. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47. The company has a market capitalization of $27.63 billion, a PE ratio of 36.95 and a beta of 1.08. 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 (NYSE:BR - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 period in the previous year, the company posted $0.92 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BR shares. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Royal Bank of Canada increased 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. Finally, DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,666 shares of company stock valued at $5,050,766 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

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.