Core Alternative Capital Sells 1,393 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Core Alternative Capital lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,627 shares of the business services provider’s stock after selling 1,393 shares during the period. Broadridge Financial Solutions makes up approximately 1.5% of Core Alternative Capital’s portfolio, making the stock its 22nd largest position. Core Alternative Capital’s holdings in Broadridge Financial Solutions were worth $7,377,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC raised its position in Broadridge Financial Solutions by 7.8% in the 4th quarter. Savant Capital LLC now owns 3,555 shares of the business services provider’s stock worth $804,000 after buying an additional 257 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Broadridge Financial Solutions by 9.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,837 shares of the business services provider’s stock worth $6,746,000 after acquiring an additional 2,535 shares during the period. Entropy Technologies LP purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $1,036,000. Empowered Funds LLC lifted its position in Broadridge Financial Solutions by 13.3% during the fourth quarter. Empowered Funds LLC now owns 2,797 shares of the business services provider’s stock valued at $632,000 after purchasing an additional 329 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in Broadridge Financial Solutions by 8.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,991 shares of the business services provider’s stock worth $1,807,000 after purchasing an additional 602 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BR. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Up 0.8 %

NYSE BR opened at $242.45 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $242.87. The stock’s 50 day moving average is $231.87 and its 200 day moving average is $221.83. The stock has a market cap of $28.37 billion, a PE ratio of 37.94 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the business earned $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Broadridge Financial Solutions 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.