Apollon Wealth Management LLC Purchases 26,799 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Apollon Wealth Management LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 335.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,790 shares of the business services provider's stock after acquiring an additional 26,799 shares during the period. Apollon Wealth Management LLC's holdings in Broadridge Financial Solutions were worth $8,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $217,000. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. CWA Asset Management Group LLC grew its position in shares of Broadridge Financial Solutions by 6.8% during the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after buying an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Broadridge Financial Solutions by 9.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after buying an additional 101 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.1%

Shares of Broadridge Financial Solutions stock traded up $2.50 on Thursday, hitting $237.36. The company had a trading volume of 356,350 shares, compared to its average volume of 527,383. The firm has a market capitalization of $27.88 billion, a P/E ratio of 35.69 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $200.63 and a twelve month high of $247.01. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a 50-day moving average of $239.72 and a 200-day moving average of $236.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.23 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the sale, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on BR shares. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Company 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.