Finance

AlphaCrest Capital Management LLC Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

AlphaCrest Capital Management LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.1{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,300 shares of the business services provider’s stock after selling 1,396 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $921,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Optimum Investment Advisors lifted its holdings in shares of Broadridge Financial Solutions by 198.7{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} in the 2nd quarter. Optimum Investment Advisors now owns 233 shares of the business services provider’s stock valued at $29,000 after buying an additional 155 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of Broadridge Financial Solutions by 546.0{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} in the 1st quarter. NEXT Financial Group Inc now owns 323 shares of the business services provider’s stock valued at $31,000 after buying an additional 273 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $31,000. Balentine LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $35,000. Finally, Cordasco Financial Network lifted its holdings in shares of Broadridge Financial Solutions by 212.8{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} in the 2nd quarter. Cordasco Financial Network now owns 294 shares of the business services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. Institutional investors own 85.92{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} of the company’s stock.

NYSE BR traded down $0.19 on Monday, reaching $138.28. 3,206 shares of the stock traded hands, compared to its average volume of 812,942. Broadridge Financial Solutions, Inc. has a 12 month low of $81.90 and a 12 month high of $144.50. The firm’s fifty day simple moving average is $133.82 and its 200 day simple moving average is $118.13. The company has a market cap of $15.95 billion, a price-to-earnings ratio of 34.88 and a beta of 0.88. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.03.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 11th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.06. Broadridge Financial Solutions had a return on equity of 48.87{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} and a net margin of 10.21{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a}. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The company’s revenue for the quarter was up 12.5{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} on a year-over-year basis. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 5.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Monday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.54. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.66{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a}. Broadridge Financial Solutions’s dividend payout ratio is 42.94{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a}.

In other news, CFO James M. Young sold 42,707 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $138.91, for a total value of $5,932,429.37. Following the sale, the chief financial officer now directly owns 49,060 shares of the company’s stock, valued at $6,814,924.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Douglas Richard Deschutter sold 22,517 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $139.14, for a total value of $3,133,015.38. Following the completion of the sale, the vice president now directly owns 50,222 shares in the company, valued at $6,987,889.08. The disclosure for this sale can be found here. Insiders sold 114,942 shares of company stock worth $15,336,293 over the last ninety days. 2.20{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} of the stock is currently owned by company insiders.

Several research firms have recently commented on BR. BTIG Research cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating in a report on Tuesday, August 11th. DA Davidson cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $138.00 price objective for the company. in a report on Wednesday, August 5th. They noted that the move was a valuation call. Raymond James lifted their price objective on Broadridge Financial Solutions from $126.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Rosenblatt Securities boosted their price target on Broadridge Financial Solutions from $112.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $136.67.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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