Core Alternative Capital Reduces Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Core Alternative Capital lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 26,656 shares of the business services provider's stock after selling 5,971 shares during the quarter. Broadridge Financial Solutions comprises about 1.6% of Core Alternative Capital's portfolio, making the stock its 22nd largest position. Core Alternative Capital's holdings in Broadridge Financial Solutions were worth $6,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $580,000. Jones Financial Companies Lllp lifted its holdings in shares of Broadridge Financial Solutions by 33.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,353 shares of the business services provider's stock valued at $758,000 after buying an additional 839 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $79,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Broadridge Financial Solutions by 10.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,178 shares of the business services provider's stock valued at $3,205,000 after buying an additional 1,312 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,789 shares of the business services provider's stock valued at $154,824,000 after buying an additional 23,376 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director directly owned 30,892 shares in the company, valued at $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider owned 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $0.97 during trading hours on Wednesday, hitting $238.50. 285,665 shares of the stock were exchanged, compared to its average volume of 527,157. Broadridge Financial Solutions, Inc. has a 52-week low of $198.71 and a 52-week high of $247.01. The firm's fifty day moving average price is $239.47 and its 200 day moving average price is $235.91. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a market cap of $28.01 billion, a P/E ratio of 35.86 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The firm's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 1.48%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Analyst Upgrades and Downgrades

BR has been the subject of several analyst reports. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada restated 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $250.83.

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.