Axxcess Wealth Management LLC Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Axxcess Wealth Management LLC grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,661 shares of the business services provider’s stock after buying an additional 1,533 shares during the period. Axxcess Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $4,858,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. New England Research & Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $1,465,000. Bank of Nova Scotia increased its position in shares of Broadridge Financial Solutions by 642.3% during the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after acquiring an additional 70,263 shares during the last quarter. UBS Group AG raised its stake in shares of Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after acquiring an additional 14,147 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after acquiring an additional 43,710 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $210.96 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 36.00 and a beta of 1.05. The stock’s 50-day moving average is $209.91 and its two-hundred day moving average is $203.19. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 over the last quarter. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on BR shares. DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $213.33.

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.