Broadridge Financial Solutions, Inc. $BR Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 54.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,048 shares of the business services provider’s stock after acquiring an additional 2,134 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Broadridge Financial Solutions were worth $1,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BR. Brighton Jones LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $580,000. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Perigon Wealth Management LLC increased its position in Broadridge Financial Solutions by 8.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,494 shares of the business services provider’s stock worth $362,000 after purchasing an additional 119 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in 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 purchasing an additional 101 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $219,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on 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 transaction, the president owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 147,532 shares of company stock valued at $38,417,208. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BR. Morgan Stanley increased their target price on shares of 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. Needham & Company LLC increased their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Finally, DA Davidson restated a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $265.67.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $229.86 on Wednesday. The stock has a market cap of $26.83 billion, a P/E ratio of 32.42 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $242.73 and a 200-day moving average of $242.56. Broadridge Financial Solutions, Inc. has a 52 week low of $208.20 and a 52 week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a dividend of $0.975 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

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.