Apollon Wealth Management LLC Purchases 5,848 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Apollon Wealth Management LLC increased its stake in Broadridge Financial Solutions by 16.8%, owning a total of 40,638 shares valued at approximately $9.88 million.
• Broadridge's dividend was recently raised to $0.975 per share, resulting in an annual yield of 1.7%, marking an increase from the previous quarterly dividend of $0.88.
• Wall Street analysts remain positive with three "Buy" ratings and a price target increase by firms like UBS and Needham, with an average price target now at $261.50.

Apollon Wealth Management LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 16.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,638 shares of the business services provider's stock after acquiring an additional 5,848 shares during the period. Apollon Wealth Management LLC's holdings in Broadridge Financial Solutions were worth $9,876,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BR. ORG Partners LLC lifted its position in Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock worth $28,000 after purchasing an additional 90 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at $29,000. Continuum Advisory LLC raised its stake in shares of Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after buying an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after acquiring an additional 117 shares during the period. Finally, Olde Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the subject of several recent research reports. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Needham & Company LLC increased their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadridge Financial Solutions in a research note on Wednesday. Morgan Stanley upped their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $261.50.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction dated 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 completion of the transaction, the president directly owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Broadridge Financial Solutions Stock Down 0.6%

NYSE BR opened at $232.81 on Friday. The stock's 50 day simple moving average is $250.05 and its 200 day simple moving average is $242.53. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91. The firm has a market cap of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

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

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, September 11th. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is 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.

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