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

Axxcess Wealth Management LLC increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BR. Jones Financial Companies Lllp lifted its position in shares of Broadridge Financial Solutions by 28,222.6% during the 1st quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock worth $230,254,000 after purchasing an additional 946,304 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Broadridge Financial Solutions by 577.9% during the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock worth $251,513,000 after purchasing an additional 883,125 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after purchasing an additional 438,381 shares during the last quarter. Nuveen LLC bought a new position in Broadridge Financial Solutions during the first quarter valued at about $91,445,000. Finally, Principal Financial Group Inc. increased its stake in Broadridge Financial Solutions by 156.8% during the first quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider’s stock valued at $98,155,000 after acquiring an additional 247,157 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock valued at $38,417,208 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BR. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Needham & Company LLC raised their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $261.50.

Broadridge Financial Solutions Trading Up 0.0%

BR stock opened at $232.87 on Tuesday. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The firm has a market cap of $27.18 billion, a P/E ratio of 32.84 and a beta of 0.95. The business’s 50 day moving average is $249.73 and its 200-day moving average is $242.55. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

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

Broadridge Financial Solutions Increases Dividend

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