Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.6% during the second quarter, HoldingsChannel.com reports. The fund owned 24,661 shares of the business services provider’s stock after purchasing an additional 1,533 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $4,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LifeSteps Financial Inc. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $32,000. EdgeRock Capital LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions in the 1st quarter valued at $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $210.96 on Wednesday. The company has a 50-day moving average of $209.91 and a two-hundred day moving average of $203.19. The stock has a market cap of $24.93 billion, a PE ratio of 36.00 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BR shares. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. In the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is owned by corporate 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.