Nicholson Wealth Management Group LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nicholson Wealth Management Group LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, Holdings Channel reports. The fund acquired 4,256 shares of the business services provider’s stock, valued at approximately $915,000.

Several other large investors also recently made changes to their positions in BR. Assenagon Asset Management S.A. increased its holdings in shares of Broadridge Financial Solutions by 3,197.8% during the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after acquiring an additional 198,169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $274,650,000. Earnest Partners LLC raised its holdings in Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock worth $74,609,000 after buying an additional 75,006 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after buying an additional 72,018 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Broadridge Financial Solutions by 97.2% during the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after buying an additional 52,171 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last quarter. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $213.33.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of BR stock opened at $216.78 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $224.32. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average of $213.22 and a 200-day moving average of $205.59. The firm has a market cap of $25.62 billion, a P/E ratio of 36.99 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

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.