Golden State Wealth Management LLC Invests $29,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, HoldingsChannel.com reports. The fund purchased 118 shares of the business services provider’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC raised its stake in Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Continuum Advisory LLC raised its stake in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $36,000. Finally, Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director owned 30,892 shares of the company’s stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the sale, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Trading Down 2.6%

BR stock opened at $238.35 on Thursday. The company has a market capitalization of $28.00 billion, a PE ratio of 35.84 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $198.18 and a one year high of $247.01. The company’s 50 day moving average price is $239.29 and its two-hundred day moving average price is $235.48. 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 (NYSE:BR) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.23 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

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.