Axxcess Wealth Management LLC Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Axxcess Wealth Management LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,994 shares of the business services provider’s stock after buying an additional 58 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $5,877,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Horizon Kinetics Asset Management LLC increased its stake in Broadridge Financial Solutions by 2.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,307 shares of the business services provider’s stock valued at $522,000 after purchasing an additional 59 shares during the last quarter. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $45,000. TCTC Holdings LLC increased its stake in shares of Broadridge Financial Solutions by 0.9% during the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 52 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Broadridge Financial Solutions by 5.2% during the 4th quarter. Signaturefd LLC now owns 1,910 shares of the business services provider’s stock worth $432,000 after acquiring an additional 95 shares during the period. Finally, Cibc World Markets Corp grew its holdings in Broadridge Financial Solutions by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 18,461 shares of the business services provider’s stock valued at $4,174,000 after purchasing an additional 2,515 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BR shares. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $231.11 on Wednesday. The firm has a market capitalization of $27.04 billion, a PE ratio of 36.17 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The stock’s 50 day moving average price is $235.61 and its 200 day moving average price is $226.37. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts expect 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 Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% 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.