Congress Asset Management Co. Sells 2,526 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Congress Asset Management Co. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,220 shares of the business services provider’s stock after selling 2,526 shares during the quarter. Congress Asset Management Co.’s holdings in Broadridge Financial Solutions were worth $17,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions during the second quarter worth $37,000. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 31,539 shares of the firm’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 value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock worth $28,112,824. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Trading Down 0.8 %

BR opened at $210.86 on Friday. The stock has a market capitalization of $24.92 billion, a P/E ratio of 35.98 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $168.76 and a 12 month high of $224.32. The firm’s fifty day simple moving average is $213.51 and its 200 day simple moving average is $205.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $3.21 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

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.