Core Alternative Capital Cuts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Core Alternative Capital trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for 1.5% of Core Alternative Capital's holdings, making the stock its 24th largest holding. Core Alternative Capital's holdings in Broadridge Financial Solutions were worth $7,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth about $32,000. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $3.00 during trading hours on Monday, reaching $215.03. 713,554 shares of the company's stock were exchanged, compared to its average volume of 530,862. The company has a market cap of $25.41 billion, a P/E ratio of 36.18 and a beta of 1.05. The company's 50 day moving average is $210.87 and its two-hundred day moving average is $203.61. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

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

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.80. Broadridge Financial Solutions's dividend payout ratio is currently 60.07%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. DA Davidson reaffirmed a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $213.33.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 25,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Christopher John Perry sold 31,539 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last quarter. Company insiders own 1.60% of the company's stock.

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.