Louisiana State Employees Retirement System Sells 100 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Louisiana State Employees Retirement System cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,600 shares of the business services provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Broadridge Financial Solutions were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Lyell Wealth Management LP bought a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $4,224,000. Ballentine Partners LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.1% in the third quarter. Ballentine Partners LLC now owns 1,628 shares of the business services provider’s stock worth $350,000 after buying an additional 64 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter worth $599,000. Cross Staff Investments Inc purchased a new position in shares of Broadridge Financial Solutions in the third quarter worth $215,000. Finally, Nicholson Wealth Management Group LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter worth $915,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BR shares. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Trading Down 0.3 %

BR stock opened at $210.21 on Friday. 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, Inc. has a twelve month low of $171.45 and a twelve month high of $224.32. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 35.87 and a beta of 1.05. The firm’s fifty day simple moving average is $213.54 and its two-hundred day simple moving average is $206.03.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share 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 quarter in the previous year, the business posted $3.21 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the 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 completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,386 shares of company stock worth $28,112,824. Insiders own 1.30% of the company’s stock.

About Broadridge Financial Solutions

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.