Apollon Wealth Management LLC Acquires 1,222 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Apollon Wealth Management LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,750 shares of the business services provider’s stock after acquiring an additional 1,222 shares during the quarter. Apollon Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $1,527,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates grew its stake in shares of Broadridge Financial Solutions by 1.3% in the second quarter. Raymond James & Associates now owns 404,049 shares of the business services provider’s stock valued at $79,598,000 after buying an additional 5,256 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Broadridge Financial Solutions by 0.5% in the second quarter. Boston Trust Walden Corp now owns 33,798 shares of the business services provider’s stock valued at $6,658,000 after buying an additional 165 shares in the last quarter. Everpar Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 12.9% in the second quarter. Everpar Advisors LLC now owns 2,234 shares of the business services provider’s stock valued at $440,000 after buying an additional 256 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Broadridge Financial Solutions by 29.5% in the second quarter. Blue Trust Inc. now owns 829 shares of the business services provider’s stock valued at $170,000 after buying an additional 189 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at $220,000. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $213.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $213.17.

Broadridge Financial Solutions Price Performance

BR traded up $0.61 on Monday, hitting $209.32. 713,031 shares of the stock were exchanged, compared to its average volume of 525,171. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The business has a 50-day moving average of $205.06 and a two-hundred day moving average of $201.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 35.72 and a beta of 1.04.

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 analysts’ consensus estimates 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 net margin of 10.92% and a return on equity of 40.88%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insider Activity

In other news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred 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 owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred 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 owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders sold 61,147 shares of company stock valued at $12,698,243 over the last quarter. 1.60% of the stock is owned by company 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.