Axxcess Wealth Management LLC Has $5.58 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Axxcess Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,936 shares of the business services provider’s stock after acquiring an additional 1,275 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $5,577,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $274,650,000. Earnest Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock worth $74,609,000 after purchasing an additional 75,006 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Broadridge Financial Solutions by 97.2% during the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock worth $21,689,000 after purchasing an additional 52,171 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the topic of several research analyst reports. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $225.21 on Monday. The business’s 50-day simple moving average is $214.29 and its 200 day simple moving average is $207.06. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 38.96 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $175.21 and a 12-month high of $226.16. The company has a quick ratio of 1.08, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results 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. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,898 shares of company stock worth $33,293,234. Insiders own 1.30% of the company’s stock.

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.