Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,194 shares of the business services provider’s stock after selling 356 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Broadridge Financial Solutions were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. lifted its holdings in shares of Broadridge Financial Solutions by 3.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 14,006 shares of the business services provider’s stock valued at $2,181,000 after buying an additional 459 shares during the period. Prudential PLC lifted its holdings in shares of Broadridge Financial Solutions by 14.9% in the 1st quarter. Prudential PLC now owns 18,435 shares of the business services provider’s stock valued at $2,871,000 after buying an additional 2,386 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 41.5% in the 1st quarter. MetLife Investment Management LLC now owns 36,445 shares of the business services provider’s stock valued at $5,675,000 after buying an additional 10,689 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,021 shares of the business services provider’s stock valued at $735,000 after buying an additional 93 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Broadridge Financial Solutions by 35.7% in the 1st quarter. Meeder Asset Management Inc. now owns 2,455 shares of the business services provider’s stock valued at $382,000 after purchasing an additional 646 shares in the last quarter. 87.14% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Raymond James raised their price objective on Broadridge Financial Solutions from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, August 15th.
Insiders Place Their Bets
Broadridge Financial Solutions Stock Performance
NYSE BR opened at $157.17 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $132.40 and a 1-year high of $185.40. The company has a market capitalization of $18.44 billion, a P/E ratio of 34.54 and a beta of 0.90. The business has a 50 day moving average price of $166.60 and a 200 day moving average price of $153.47. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01.
Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Friday, August 12th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.03. Broadridge Financial Solutions had a return on equity of 42.29% and a net margin of 9.44%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $2.19 EPS. Broadridge Financial Solutions’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.07 EPS for the current fiscal year.
Broadridge Financial Solutions Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.725 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, September 14th. This represents a $2.90 annualized dividend and a yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 63.74%.
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.
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