Congress Asset Management Co. MA Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Congress Asset Management Co. MA trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,663 shares of the business services provider’s stock after selling 2,186 shares during the period. Congress Asset Management Co. MA owned about 0.07% of Broadridge Financial Solutions worth $17,549,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BR. First Affirmative Financial Network raised its stake in Broadridge Financial Solutions by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 1,728 shares of the business services provider’s stock valued at $354,000 after purchasing an additional 72 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $228,000. American National Bank acquired a new stake in Broadridge Financial Solutions during the first quarter worth approximately $343,000. Wedmont Private Capital grew its stake in Broadridge Financial Solutions by 5.3% in the 1st quarter. Wedmont Private Capital now owns 1,353 shares of the business services provider’s stock worth $280,000 after acquiring an additional 68 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Broadridge Financial Solutions in the 1st quarter valued at $911,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.4 %

Shares of NYSE:BR opened at $200.79 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $157.00 and a 52-week high of $210.24. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 34.26 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average of $197.51 and a two-hundred day moving average of $199.68.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $2.05 EPS. Broadridge Financial Solutions’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BR. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $206.67.

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.