Golden State Wealth Management LLC Purchases Shares of 118 Broadridge Financial Solutions, Inc. (NYSE:BR)

Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 118 shares of the business services provider’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently made changes to their positions in BR. BSW Wealth Partners boosted its position in shares of Broadridge Financial Solutions by 3.2% during the 1st quarter. BSW Wealth Partners now owns 1,686 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 52 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 4.1% during the 1st quarter. Transcend Capital Advisors LLC now owns 12,831 shares of the business services provider’s stock valued at $3,111,000 after purchasing an additional 507 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $219,000. Park Place Capital Corp boosted its position in shares of Broadridge Financial Solutions by 51.4% during the 1st quarter. Park Place Capital Corp now owns 8,829 shares of the business services provider’s stock valued at $2,141,000 after purchasing an additional 2,998 shares in the last quarter. Finally, Board of the Pension Protection Fund boosted its position in shares of Broadridge Financial Solutions by 520.0% during the 1st quarter. Board of the Pension Protection Fund now owns 3,100 shares of the business services provider’s stock valued at $752,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.7%

BR stock opened at $242.13 on Monday. The company has a market cap of $28.44 billion, a P/E ratio of 36.41 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a fifty-two week low of $198.71 and a fifty-two week high of $247.01. The stock’s 50 day simple moving average is $239.46 and its 200 day simple moving average is $235.80. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

Wall Street Analyst Weigh In

BR has been the topic of several research analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $250.83.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares of the company’s stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the sale, the vice president directly owned 6,077 shares of the company’s stock, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company’s stock.

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.