Teacher Retirement System of Texas Acquires 67,500 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Teacher Retirement System of Texas boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 48.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,029 shares of the business services provider's stock after purchasing an additional 67,500 shares during the quarter. Teacher Retirement System of Texas owned about 0.18% of Broadridge Financial Solutions worth $46,807,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $104,466,000. Corient Private Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after buying an additional 392,695 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Broadridge Financial Solutions by 2,302.8% during the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider's stock valued at $31,618,000 after buying an additional 140,886 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $25,773,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider's stock worth $42,765,000 after acquiring an additional 98,275 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of brokerages have recently commented on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $239.17.

Insiders Place Their Bets

In other news, Director Brett Keller sold 5,442 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.5 %

BR traded up $1.22 during trading hours on Tuesday, hitting $237.04. 482,804 shares of the company's stock were exchanged, compared to its average volume of 475,727. The firm has a market cap of $27.74 billion, a P/E ratio of 37.10 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $236.26 and a 200 day moving average of $227.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released 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 net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.

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.