Apollon Wealth Management LLC Sells 361 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Apollon Wealth Management LLC trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,389 shares of the business services provider’s stock after selling 361 shares during the period. Apollon Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $1,589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC raised its stake in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after buying an additional 8,837 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after purchasing an additional 2,685 shares in the last quarter. BDF Gestion bought a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $3,954,000. Intech Investment Management LLC increased its stake in Broadridge Financial Solutions by 173.1% in the first quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider’s stock valued at $2,502,000 after purchasing an additional 7,739 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Broadridge Financial Solutions by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after purchasing an additional 28,180 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Down 0.5 %

Shares of Broadridge Financial Solutions stock opened at $227.92 on Friday. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 39.43 and a beta of 1.05. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $180.16 and a 12-month high of $230.00. The firm’s 50-day moving average price is $215.55 and its two-hundred day moving average price is $207.80.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Activity

In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the sale, the chief executive officer now directly owns 206,349 shares in the company, valued at approximately $43,190,909.19. This trade represents a 10.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,696 shares of company stock worth $24,782,982. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $217.83.

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.