Broadridge Financial Solutions, Inc. $BR Stock Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 124.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,855 shares of the business services provider’s stock after acquiring an additional 2,690 shares during the period. AlphaCore Capital LLC’s holdings in Broadridge Financial Solutions were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Broadridge Financial Solutions during the second quarter worth $1,473,918,000. Jupiter Topco LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $261,852,000. Van ECK Associates Corp raised its holdings in Broadridge Financial Solutions by 11.3% in the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock valued at $256,875,000 after buying an additional 190,301 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $197,921,000. Finally, Amundi grew its stake in Broadridge Financial Solutions by 67.5% in the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after purchasing an additional 426,587 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. Weiss Ratings upgraded Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Finally, UBS Group restated a “neutral” rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.71.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $192.27 on Friday. The stock’s fifty day moving average is $173.29 and its 200-day moving average is $165.46. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $21.75 billion, a PE ratio of 21.25 and a beta of 0.90. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $233.10.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 10th will be given a dividend of $1.09 per share. The ex-dividend date is Thursday, December 10th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. Broadridge Financial Solutions’s payout ratio is currently 48.18%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,501 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Maura A. Markus sold 3,180 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $191.89, for a total value of $610,210.20. Following the completion of the transaction, the director directly owned 33,769 shares of the company’s stock, valued at approximately $6,479,933.41. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.00% of the stock is owned by insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.