38,442 Shares in Broadridge Financial Solutions, Inc. (BR) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 38,442 shares of the business services provider’s stock, valued at approximately $3,482,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. Advisory Services Network LLC grew its position in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares during the last quarter. Wendell David Associates Inc. grew its position in Broadridge Financial Solutions by 9.3% during the third quarter. Wendell David Associates Inc. now owns 71,316 shares of the business services provider’s stock valued at $5,764,000 after acquiring an additional 6,043 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at approximately $296,000. JPMorgan Chase & Co. grew its position in Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock valued at $40,590,000 after acquiring an additional 71,106 shares during the last quarter. Finally, Aperio Group LLC grew its position in Broadridge Financial Solutions by 5.0% during the third quarter. Aperio Group LLC now owns 94,080 shares of the business services provider’s stock valued at $7,604,000 after acquiring an additional 4,465 shares during the last quarter. 82.95% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on BR. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Wednesday, January 31st. DA Davidson reiterated a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Sandler O’Neill reiterated a “hold” rating and set a $101.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday. Finally, Barclays reiterated a “hold” rating and set a $95.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.75.

In related news, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the sale, the director now owns 44,482 shares in the company, valued at $3,937,101.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher John Perry sold 21,117 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $97.07, for a total transaction of $2,049,827.19. Following the completion of the sale, the senior vice president now owns 44,145 shares in the company, valued at approximately $4,285,155.15. The disclosure for this sale can be found here. Insiders sold 166,675 shares of company stock worth $15,441,281 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Broadridge Financial Solutions, Inc. (BR) opened at $98.78 on Monday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. Broadridge Financial Solutions, Inc. has a fifty-two week low of $66.49 and a fifty-two week high of $99.22. The stock has a market cap of $11,523.10, a P/E ratio of 31.46, a PEG ratio of 2.45 and a beta of 1.01.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.21. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $945.80 million. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. research analysts forecast that Broadridge Financial Solutions, Inc. will post 4.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is 46.50%.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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