Kentucky Retirement Systems Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kentucky Retirement Systems reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bogart Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 384.0% during the 3rd 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. True Wealth Design LLC raised its holdings in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $38,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $41,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $235.31 on Friday. The firm has a market cap of $27.54 billion, a price-to-earnings ratio of 36.82 and a beta of 1.08. The stock has a 50 day moving average of $232.79 and a 200-day moving average of $223.40. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 quarter last year, the company posted $0.92 earnings per share. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. 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 is currently 55.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BR. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $239.17.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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.