Axxcess Wealth Management LLC Has $6.51 Million Stake in Broadridge Financial Solutions, Inc. $BR

Axxcess Wealth Management LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,786 shares of the business services provider’s stock after purchasing an additional 511 shares during the period. Axxcess Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $6,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BR. ORG Partners LLC boosted its position in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $29,000. Continuum Advisory LLC boosted its position in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after buying an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $36,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of recent research reports. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Needham & Company LLC raised their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $261.50.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock worth $38,417,208 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 0.0%

NYSE:BR opened at $232.87 on Tuesday. Broadridge Financial Solutions, Inc. has a 12-month low of $208.20 and a 12-month high of $271.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $27.18 billion, a P/E ratio of 32.84 and a beta of 0.95. The stock’s fifty day simple moving average is $249.73 and its 200-day simple moving average is $242.55.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.01%.

Broadridge Financial Solutions 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.