Kentucky Retirement Systems Insurance Trust Fund Sells 357 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,455 shares of the business services provider’s stock after selling 357 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Broadridge Financial Solutions were worth $743,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its position in Broadridge Financial Solutions by 384.0% during 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 during the period. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % 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. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $227.08 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a twelve month low of $182.57 and a twelve month high of $230.00. The company has a fifty day moving average of $216.28 and a 200-day moving average of $208.45. The firm has a market capitalization of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.05.

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, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

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