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

Apollon Wealth Management LLC boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,991 shares of the business services provider’s stock after purchasing an additional 602 shares during the quarter. Apollon Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. CWM LLC boosted its position in shares of Broadridge Financial Solutions by 3.3% during the 3rd quarter. CWM LLC now owns 7,272 shares of the business services provider’s stock valued at $1,564,000 after acquiring an additional 231 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Broadridge Financial Solutions by 190.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 886 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 581 shares during the last quarter. Ritholtz Wealth Management grew its stake in Broadridge Financial Solutions by 23.1% in the 3rd quarter. Ritholtz Wealth Management now owns 1,487 shares of the business services provider’s stock worth $320,000 after buying an additional 279 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth $137,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Broadridge Financial Solutions by 7.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,015 shares of the business services provider’s stock valued at $1,508,000 after buying an additional 467 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,666 shares of company stock valued at $5,050,766. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BR shares. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. DA Davidson restated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $242.45 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average of $231.87 and a 200 day moving average of $221.83. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 37.94 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $242.87.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

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.