Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Trimmed by Congress Asset Management Co.

Congress Asset Management Co. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,220 shares of the business services provider’s stock after selling 2,526 shares during the quarter. Congress Asset Management Co. owned 0.07% of Broadridge Financial Solutions worth $17,680,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Goldstone Financial Group LLC bought a new position in Broadridge Financial Solutions during the third quarter valued at about $217,000. Sunburst Financial Group LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $207,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Broadridge Financial Solutions by 22.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,795 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 864 shares during the last quarter. Avitas Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $1,129,000. Finally, MONECO Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.4% during the third quarter. MONECO Advisors LLC now owns 1,566 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.8 %

BR opened at $210.86 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $24.92 billion, a PE ratio of 35.98 and a beta of 1.05. The business has a 50-day moving average of $213.51 and a 200-day moving average of $205.89. Broadridge Financial Solutions, Inc. has a fifty-two week low of $168.76 and a fifty-two week high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last 90 days. 1.60% of the stock is currently owned by insiders.

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.