AlphaCore Capital LLC Takes $218,000 Position in Broadridge Financial Solutions, Inc. $BR

AlphaCore Capital LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 894 shares of the business services provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC raised its stake in shares of Broadridge Financial Solutions by 89.5% during the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after buying an additional 51 shares in the last quarter. ORG Partners LLC lifted its holdings in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Broadridge Financial Solutions by 85.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Bank of Jackson Hole Trust increased its stake in shares of Broadridge Financial Solutions by 110.3% during the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 64 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total value of $900,384.00. Following the sale, the president owned 44,829 shares of the company’s stock, valued at $10,131,354. The trade was a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. DA Davidson reiterated a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Needham & Company LLC upped their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group reduced their price target on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $228.28 on Wednesday. The stock’s 50-day moving average is $230.35 and its two-hundred day moving average is $240.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. Broadridge Financial Solutions, Inc. has a fifty-two week low of $212.33 and a fifty-two week high of $271.91. The firm has a market cap of $26.65 billion, a P/E ratio of 29.23 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The business had revenue of $1.05 billion during the quarter. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Broadridge Financial Solutions Company 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.