Teachers Retirement System of The State of Kentucky Has $1.88 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.6% in the third quarter, Holdings Channel reports. The institutional investor owned 8,728 shares of the business services provider’s stock after selling 616 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Broadridge Financial Solutions were worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of BR. Blue Trust Inc. lifted its holdings in shares of Broadridge Financial Solutions by 29.5% during the second quarter. Blue Trust Inc. now owns 829 shares of the business services provider’s stock worth $170,000 after buying an additional 189 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 18.7% during the second quarter. Apollon Wealth Management LLC now owns 7,750 shares of the business services provider’s stock worth $1,527,000 after buying an additional 1,222 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Broadridge Financial Solutions by 19.2% during the second quarter. First Horizon Advisors Inc. now owns 945 shares of the business services provider’s stock worth $186,000 after buying an additional 152 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $214,000. Finally, Griffin Asset Management Inc. raised its stake in shares of Broadridge Financial Solutions by 3.3% in the second quarter. Griffin Asset Management Inc. now owns 20,114 shares of the business services provider’s stock valued at $3,962,000 after purchasing an additional 650 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $231.92 on Tuesday. The business’s fifty day moving average price is $224.77 and its two-hundred day moving average price is $213.25. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 40.12 and a beta of 1.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last announced 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm 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 1.52%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their target price 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. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson upped their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $226.71.

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.