Kentucky Trust Co Invests $68,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kentucky Trust Co purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 300 shares of the business services provider’s stock, valued at approximately $68,000.

Several other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after acquiring an additional 15,208 shares during the last quarter. Stifel Financial Corp lifted its holdings in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after purchasing an additional 20,775 shares during the period. Finally, abrdn plc lifted its holdings in Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after purchasing an additional 27,869 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $239.17.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,666 shares of company stock worth $5,050,766. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $242.53 on Thursday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $243.00. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 37.95 and a beta of 1.08. The firm has a 50-day moving average of $232.26 and a two-hundred day moving average of $222.18.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

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.