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

Kentucky Retirement Systems lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,131 shares of the business services provider’s stock after selling 775 shares during the quarter. 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $217.83.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares in the company, valued at approximately $43,190,909.19. This trade represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,534 shares of company stock worth $24,748,962. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of BR stock opened at $227.08 on Tuesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $230.00. The firm has a market capitalization of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.05. The stock’s fifty day moving average is $216.28 and its two-hundred day moving average is $208.45. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

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

Broadridge Financial Solutions Announces Dividend

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

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.