Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Raised by Apella Capital LLC

Apella Capital LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,450 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. Apella Capital LLC’s holdings in Broadridge Financial Solutions were worth $290,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BR. Hutchens & Kramer Investment Management Group LLC raised its stake in shares of Broadridge Financial Solutions by 4.5% during the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after purchasing an additional 51 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after acquiring an additional 52 shares during the last quarter. TIAA Trust National Association increased its holdings in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after acquiring an additional 52 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Broadridge Financial Solutions by 3.6% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock valued at $324,000 after acquiring an additional 55 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 10.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 55 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded down $6.63 during trading on Wednesday, hitting $211.92. 895,624 shares of the stock were exchanged, compared to its average volume of 513,913. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 36.16 and a beta of 1.04. The company’s fifty day simple moving average is $203.03 and its 200-day simple moving average is $201.25. 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 (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $3.21 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 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. Shareholders of record on Thursday, September 12th will be given a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.66%. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BR shares. DA Davidson reissued a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $213.00 to $224.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $213.17.

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.