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

Apella Capital LLC increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,450 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Apella Capital LLC’s holdings in Broadridge Financial Solutions were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of Broadridge Financial Solutions by 4.5% during the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after buying an additional 51 shares in the last quarter. New York Life Investment Management LLC boosted its position in Broadridge Financial Solutions by 0.3% during the fourth 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 purchasing an additional 52 shares during the last quarter. TIAA Trust National Association boosted its position in Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its position in Broadridge Financial Solutions by 3.6% during the first 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 purchasing an additional 55 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Broadridge Financial Solutions by 10.3% during the first quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $6.63 during trading hours on Wednesday, hitting $211.92. 895,624 shares of the company’s 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 debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock 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 50-day moving average price is $203.03 and its 200-day moving average price is $201.25.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm earned $3.21 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared 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. This represents a $3.52 annualized dividend and a yield of 1.66%. This is a positive change 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 payout ratio is currently 54.61%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 9,361 shares in the company, 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.

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.