Kentucky Retirement Systems Buys Shares of 5,078 Broadridge Financial Solutions, Inc. (BR)

Kentucky Retirement Systems bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,078 shares of the business services provider’s stock, valued at approximately $489,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Securian Asset Management Inc increased its position in shares of Broadridge Financial Solutions by 0.8% during the 4th quarter. Securian Asset Management Inc now owns 12,131 shares of the business services provider’s stock valued at $1,168,000 after purchasing an additional 100 shares during the last quarter. Northwest Investment Counselors LLC boosted its holdings in Broadridge Financial Solutions by 0.9% during the 4th quarter. Northwest Investment Counselors LLC now owns 11,791 shares of the business services provider’s stock valued at $1,135,000 after acquiring an additional 107 shares during the period. Webster Bank N. A. boosted its holdings in Broadridge Financial Solutions by 17.9% during the 4th quarter. Webster Bank N. A. now owns 843 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 128 shares during the period. Intrust Bank NA boosted its holdings in Broadridge Financial Solutions by 0.5% during the 4th quarter. Intrust Bank NA now owns 30,860 shares of the business services provider’s stock valued at $2,971,000 after acquiring an additional 142 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Broadridge Financial Solutions by 117.3% during the 4th quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 156 shares during the period. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $100.36, for a total value of $198,712.80. Following the completion of the sale, the director now directly owns 51,588 shares in the company, valued at approximately $5,177,371.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Rosenblatt Securities assumed coverage on Broadridge Financial Solutions in a report on Wednesday, December 5th. They set a “neutral” rating and a $110.00 price objective for the company. DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Friday, February 8th. SunTrust Banks restated a “buy” rating and set a $110.00 price objective on shares of Broadridge Financial Solutions in a report on Sunday, January 6th. Finally, Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $118.67.

BR opened at $104.99 on Tuesday. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market cap of $11.99 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The business had revenue of $953.40 million for the quarter, compared to analysts’ expectations of $967.21 million. During the same quarter in the previous year, the firm earned $0.79 EPS. Broadridge Financial Solutions’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 4.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is 46.30%.

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Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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