Western Wealth Management LLC Purchases New Stake in Broadridge Financial Solutions, Inc. $BR

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patton Fund Management Inc. lifted its position in Broadridge Financial Solutions by 5.3% during the 4th quarter. Patton Fund Management Inc. now owns 974 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 49 shares during the period. Great Valley Advisor Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 994 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 50 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Broadridge Financial Solutions by 3.9% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 1,608 shares of the business services provider’s stock worth $383,000 after buying an additional 61 shares during the period. WPG Advisers LLC grew its position in shares of Broadridge Financial Solutions by 77.5% during the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock worth $32,000 after buying an additional 62 shares during the period. Finally, Bontempo Ohly Capital Mgmt LLC raised its stake in shares of Broadridge Financial Solutions by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,895 shares of the business services provider’s stock worth $4,217,000 after buying an additional 62 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $154.02 on Monday. The firm’s 50 day simple moving average is $146.80 and its 200 day simple moving average is $164.45. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 16.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data 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. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction 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 of the company’s stock, valued at $155. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.