Axxcess Wealth Management LLC Invests $4.57 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Axxcess Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,225 shares of the business services provider’s stock, valued at approximately $4,573,000.

A number of other hedge funds have also recently modified their holdings of BR. OFI Invest Asset Management acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $25,000. Headinvest LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $32,000. First Command Advisory Services Inc. acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $34,000. Stuart Chaussee & Associates Inc. acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at about $34,000. Finally, Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.8 %

Broadridge Financial Solutions stock traded up $3.50 during mid-day trading on Friday, hitting $198.85. The company had a trading volume of 437,685 shares, compared to its average volume of 388,730. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 34.64 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1 year low of $144.54 and a 1 year high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $200.27 and a 200 day moving average of $195.07.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock worth $9,745,637. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Raymond James raised their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

About Broadridge Financial Solutions

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.