Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,020 shares of the business services provider’s stock after selling 111 shares during the quarter. Kentucky Retirement Systems’ holdings in Broadridge Financial Solutions were worth $1,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC raised 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 worth $26,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth $38,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $41,000. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BR. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock worth $5,050,766 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $235.31 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. 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 company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 36.82 and a beta of 1.08. The stock’s fifty day simple moving average is $232.79 and its 200-day simple moving average is $223.40.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company earned $0.92 EPS. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

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.