SYSTM Wealth Solutions LLC Has $1.76 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

SYSTM Wealth Solutions LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 38.2% during the 2nd quarter, Holdings Channel reports. The firm owned 8,922 shares of the business services provider’s stock after selling 5,506 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Broadridge Financial Solutions were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Axxcess Wealth Management LLC increased its stake in shares of Broadridge Financial Solutions by 6.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 24,661 shares of the business services provider’s stock worth $4,858,000 after purchasing an additional 1,533 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in Broadridge Financial Solutions by 7.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,398 shares of the business services provider’s stock valued at $474,000 after buying an additional 166 shares during the last quarter. Menard Financial Group LLC grew its stake in Broadridge Financial Solutions by 2.1% in the 2nd quarter. Menard Financial Group LLC now owns 3,853 shares of the business services provider’s stock valued at $759,000 after buying an additional 79 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after buying an additional 72,018 shares during the last quarter. Finally, Garrison Asset Management LLC grew its stake in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 50 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target 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. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Read Our Latest Stock Report on Broadridge Financial Solutions

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $13,938,374.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $210.96 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $24.93 billion, a P/E ratio of 36.00 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The firm has a 50-day moving average price of $209.91 and a two-hundred day moving average price of $203.19.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $3.21 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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