Apollon Wealth Management LLC Sells 30,859 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Apollon Wealth Management cut its stake in Broadridge Financial Solutions by 73.8% in the first quarter, selling 30,859 shares and leaving it with 10,982 shares worth about $1.784 million.
• Broader institutional ownership remains heavy, with 90.03% of the stock held by institutions. Several large funds increased positions significantly, including Alliancebernstein, Norges Bank, and Van ECK.
• Broadridge reported better-than-expected quarterly results, with EPS of $2.72 versus $2.63 expected and revenue of $1.95 billion, while also declaring a $0.975 quarterly dividend yielding about 2.8%.

Apollon Wealth Management LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 73.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,982 shares of the business services provider's stock after selling 30,859 shares during the quarter. Apollon Wealth Management LLC's holdings in Broadridge Financial Solutions were worth $1,784,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in Broadridge Financial Solutions by 692.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,690,705 shares of the business services provider's stock valued at $879,015,000 after acquiring an additional 3,224,891 shares in the last quarter. Norges Bank bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $346,304,000. Van ECK Associates Corp grew its holdings in shares of Broadridge Financial Solutions by 110.6% during the 4th quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider's stock worth $329,239,000 after purchasing an additional 774,747 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $126,553,000. Finally, JPMorgan Chase & Co. increased its position in shares of Broadridge Financial Solutions by 52.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,403,997 shares of the business services provider's stock valued at $313,330,000 after purchasing an additional 485,297 shares during the period. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DA Davidson cut their target price on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. UBS Group lowered their price target on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Weiss Ratings cut shares of Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Finally, Needham & Company LLC reduced their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $221.57.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $140.93 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $16.30 billion, a PE ratio of 15.09 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $271.91. The business has a 50 day simple moving average of $148.21 and a 200 day simple moving average of $176.27.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.63 by $0.09. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. Broadridge Financial Solutions's quarterly revenue was up 7.8% on a year-over-year basis. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 41.76%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

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