Brookstone Capital Management Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Brookstone Capital Management bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,234 shares of the business services provider’s stock, valued at approximately $253,000.

A number of other hedge funds also recently bought and sold shares of BR. Peak Financial Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $2,824,000. First PREMIER Bank lifted its holdings in shares of Broadridge Financial Solutions by 69.2% during the 1st quarter. First PREMIER Bank now owns 330 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 135 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Broadridge Financial Solutions by 5.2% during the 1st quarter. Ballentine Partners LLC now owns 1,572 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 77 shares during the last quarter. Unique Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 16.3% during the 1st quarter. Unique Wealth LLC now owns 1,461 shares of the business services provider’s stock valued at $299,000 after purchasing an additional 205 shares during the last quarter. Finally, &PARTNERS purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $425,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $198.20 on Wednesday. The business’s 50-day moving average is $198.20 and its two-hundred day moving average is $200.06. The company has a market capitalization of $23.42 billion, a P/E ratio of 33.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a fifty-two week low of $161.85 and a fifty-two week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $2.05 earnings per share. Broadridge Financial Solutions’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity

In other news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of research analyst reports. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Evercore ISI restated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $206.67.

About Broadridge Financial Solutions

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.