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

Apollon Wealth Management LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,389 shares of the business services provider’s stock after selling 361 shares during the quarter. Apollon Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $1,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BR. Tidal Investments LLC raised 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 last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Broadridge Financial Solutions by 5.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares during the last quarter. BDF Gestion acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $3,954,000. Intech Investment Management LLC raised its position in shares of Broadridge Financial Solutions by 173.1% during the 1st quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider’s stock worth $2,502,000 after purchasing an additional 7,739 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $217.83.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the sale, the chief executive officer now owns 206,349 shares in the company, valued at approximately $43,190,909.19. This trade represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,696 shares of company stock worth $24,782,982. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $227.92 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $180.16 and a 12 month high of $230.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $26.64 billion, a PE ratio of 39.43 and a beta of 1.05. The company’s 50 day simple moving average is $215.55 and its 200 day simple moving average is $207.80.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.