Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Core Alternative Capital

Core Alternative Capital reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,656 shares of the business services provider's stock after selling 5,971 shares during the period. Broadridge Financial Solutions comprises 1.6% of Core Alternative Capital's holdings, making the stock its 22nd biggest position. Core Alternative Capital's holdings in Broadridge Financial Solutions were worth $6,463,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BR. Vanguard Group Inc. grew its holdings in Broadridge Financial Solutions by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after acquiring an additional 74,674 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC raised its holdings in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock worth $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock worth $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Finally, Barclays PLC grew its holdings in Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock valued at $372,713,000 after purchasing an additional 40,506 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BR shares. Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus price target of $250.83.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider directly owned 1,070 shares in the company, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president owned 6,077 shares in the company, 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. In the last three months, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Trading Down 0.7%

BR stock traded down $1.68 during midday trading on Monday, hitting $240.45. 79,591 shares of the company's stock were exchanged, compared to its average volume of 530,379. Broadridge Financial Solutions, Inc. has a 1-year low of $198.71 and a 1-year high of $247.01. The business has a 50-day simple moving average of $239.46 and a two-hundred day simple moving average of $235.80. The stock has a market capitalization of $28.24 billion, a PE ratio of 36.14 and a beta of 0.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $2.23 EPS. On average, sell-side 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 was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

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.