Aptus Capital Advisors LLC Has $24.95 Million Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Aptus Capital Advisors LLC has increased its stake in Broadridge Financial Solutions by 7.1%, now holding approximately $24.95 million worth of shares.
• Broadridge recently reported a quarterly earnings per share (EPS) of $3.55, surpassing the consensus estimate by $0.04, alongside a 6.2% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.975 per share, up from the previous $0.88, reflecting a commitment to returning value to shareholders.

Aptus Capital Advisors LLC increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,919 shares of the business services provider's stock after purchasing an additional 6,833 shares during the period. Aptus Capital Advisors LLC owned approximately 0.09% of Broadridge Financial Solutions worth $24,954,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the first quarter worth about $29,000. Whipplewood Advisors LLC grew its position in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Continuum Advisory LLC grew its position in shares of Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after purchasing an additional 46 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock valued at $35,000 after purchasing an additional 117 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.5%

Shares of BR opened at $260.42 on Monday. The stock has a market capitalization of $30.50 billion, a price-to-earnings ratio of 36.73 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91. The stock has a fifty day moving average of $245.40 and a 200-day moving average of $239.81.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Broadridge Financial Solutions's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $3.50 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is 49.65%.

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 155,299 shares of company stock worth $40,196,503. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BR has been the topic of a number of analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $261.50.

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.

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