Western Wealth Management LLC Takes $959,000 Position in Broadridge Financial Solutions, Inc. $BR

Western Wealth Management LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,902 shares of the business services provider’s stock, valued at approximately $959,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in Broadridge Financial Solutions by 25.8% in the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock valued at $7,927,000 after buying an additional 9,996 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $4,211,000. UNIVEST FINANCIAL Corp bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at $8,227,000. New Age Alpha Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 51.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider’s stock valued at $8,237,000 after purchasing an additional 12,569 shares in the last quarter. Finally, Cvfg LLC acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $2,463,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at approximately $155. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $154.02 on Monday. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $271.91. The stock has a market capitalization of $17.81 billion, a PE ratio of 16.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s fifty day moving average is $146.80 and its 200-day moving average is $164.45.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.09. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 9.55 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $0.975 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.5%. Broadridge Financial Solutions’s payout ratio is currently 41.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BR shares. DA Davidson cut their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. Needham & Company LLC dropped their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings cut shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, UBS Group cut their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.57.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.