Alpine Bank Wealth Management Buys Shares of 229 Broadridge Financial Solutions, Inc. (NYSE:BR)

Alpine Bank Wealth Management purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 229 shares of the business services provider’s stock, valued at approximately $56,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $580,000. Sigma Planning Corp bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $216,000. Wealthspire Advisors LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $225,000. Crestwood Advisors Group LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $206,000. Finally, Bank of New York Mellon Corp boosted its position in Broadridge Financial Solutions by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 896,718 shares of the business services provider’s stock valued at $202,739,000 after buying an additional 20,694 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of research reports. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Price Performance

BR stock opened at $239.49 on Friday. The company has a market capitalization of $28.13 billion, a P/E ratio of 36.01 and a beta of 0.96. The company has a fifty day moving average price of $238.69 and a 200-day moving average price of $235.31. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. Broadridge Financial Solutions, Inc. has a 52-week low of $195.64 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.23 EPS. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Insider Buying and Selling

In other news, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director now directly owns 30,892 shares of the company’s stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 over the last ninety days. 1.30% of the stock is owned by company insiders.

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.