Nicholson Wealth Management Group LLC Acquires 118 Shares of Broadridge Financial Solutions, Inc. $BR

Nicholson Wealth Management Group LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% during the second quarter, HoldingsChannel.com reports. The fund owned 6,677 shares of the business services provider’s stock after purchasing an additional 118 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Broadridge Financial Solutions were worth $1,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the first quarter valued at about $29,000. Continuum Advisory LLC increased its stake in 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 acquiring an additional 46 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in 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 acquiring an additional 117 shares during the period. Finally, Olde Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the first quarter worth about $36,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at $42,986,992.02. This represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares in the company, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock worth $38,417,208 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BR. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Needham & Company LLC upped their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $261.50.

Broadridge Financial Solutions Price Performance

BR opened at $228.97 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50 day simple moving average is $246.88 and its 200-day simple moving average is $242.21. The stock has a market capitalization of $26.73 billion, a P/E ratio of 32.30 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion for the quarter. 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 disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were issued a $0.975 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

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.