Kentucky Retirement Systems Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kentucky Retirement Systems trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,131 shares of the business services provider’s stock after selling 775 shares during the period. Kentucky Retirement Systems’ holdings in Broadridge Financial Solutions were worth $1,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BR. Bogart Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $38,000. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares in the company, valued at approximately $43,190,909.19. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,534 shares of company stock valued at $24,748,962. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $227.08 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market cap of $26.54 billion, a PE ratio of 39.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $182.57 and a 12 month high of $230.00. The stock has a fifty day moving average price of $216.28 and a 200-day moving average price of $208.45.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BR. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $217.83.

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.