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 3rd quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BR. Sei Investments Co. grew its position in shares of Broadridge Financial Solutions by 4.1% in the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider’s stock valued at $4,021,000 after acquiring an additional 779 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Broadridge Financial Solutions by 43.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,175 shares of the business services provider’s stock worth $2,699,000 after purchasing an additional 3,973 shares during the period. UniSuper Management Pty Ltd increased its position in Broadridge Financial Solutions by 383.6% during the first quarter. UniSuper Management Pty Ltd now owns 6,030 shares of the business services provider’s stock worth $1,235,000 after buying an additional 4,783 shares during the last quarter. Bessemer Group Inc. raised its stake in Broadridge Financial Solutions by 1.6% in the first quarter. Bessemer Group Inc. now owns 7,012 shares of the business services provider’s stock valued at $1,436,000 after buying an additional 109 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Broadridge Financial Solutions by 14.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 134,426 shares of the business services provider’s stock valued at $27,539,000 after buying an additional 17,242 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 6,501 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $210.22, for a total value of $1,366,640.22. Following the transaction, the president now directly owns 67,771 shares of the company’s stock, valued at $14,246,819.62. This trade represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,534 shares of company stock worth $24,748,962. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $227.08 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $182.57 and a 52 week high of $230.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm’s 50-day simple moving average is $216.28 and its 200 day simple moving average is $208.45. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 39.29 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley upped 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. Royal Bank of Canada restated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.