Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 34.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,001 shares of the business services provider's stock after selling 21,606 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Broadridge Financial Solutions were worth $8,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BR. LifeSteps Financial Inc. acquired a new position in Broadridge Financial Solutions during the 1st quarter worth $32,000. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth approximately $32,000. Manchester Capital Management LLC raised its holdings in Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider's stock valued at $34,000 after acquiring an additional 60 shares in the last quarter. Finally, New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Buying and Selling

In other news, President Christopher John Perry sold 17,534 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Christopher John Perry sold 17,534 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares of the company's stock, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last quarter. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Finally, DA Davidson reissued a "neutral" rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded up $1.42 during mid-day trading on Friday, reaching $211.95. 366,452 shares of the stock were exchanged, compared to its average volume of 527,462. The stock has a market capitalization of $24.74 billion, a P/E ratio of 36.17 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a 50 day simple moving average of $209.72 and a 200-day simple moving average of $203.14. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the previous year, the company posted $3.21 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. Broadridge Financial Solutions's dividend payout ratio is 54.61%.

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.