Congress Wealth Management LLC DE Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Congress Wealth Management LLC DE lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,414 shares of the business services provider’s stock after selling 2,843 shares during the quarter. Congress Wealth Management LLC DE owned 0.06% of Broadridge Financial Solutions worth $15,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. Headinvest LLC purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Manchester Capital Management LLC raised its holdings in shares of Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $37,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.2 %

NYSE:BR opened at $196.56 on Tuesday. The stock has a 50-day simple moving average of $198.15 and a 200-day simple moving average of $200.02. The stock has a market cap of $23.23 billion, a P/E ratio of 33.54 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 1 year low of $161.85 and a 1 year high of $210.24. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $206.67.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.