Core Alternative Capital Has $7.42 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Core Alternative Capital lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,642 shares of the business services provider’s stock after selling 5,263 shares during the quarter. Broadridge Financial Solutions comprises about 1.5% of Core Alternative Capital’s investment portfolio, making the stock its 24th biggest position. Core Alternative Capital’s holdings in Broadridge Financial Solutions were worth $7,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at $34,000. Finally, Family Firm Inc. bought a new stake in Broadridge Financial Solutions in the second quarter valued at $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.1 %

NYSE BR opened at $212.03 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $210.87 and its 200-day moving average is $203.61. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The firm has a market cap of $25.06 billion, a P/E ratio of 36.18 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

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.