Procyon Advisors LLC Has $326,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Procyon Advisors LLC trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the business services provider’s stock after selling 528 shares during the period. Procyon Advisors LLC’s holdings in Broadridge Financial Solutions were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter worth $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth $34,000. Family Firm Inc. acquired a new position in Broadridge Financial Solutions in the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. lifted its position in Broadridge Financial Solutions by 65.5% during the second quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after purchasing an additional 78 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated 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 directly owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 owns 5,530 shares in the company, valued at $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. 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 ninety days. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Down 1.1 %

Shares of BR opened at $219.22 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $224.32. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 37.41 and a beta of 1.05. The stock has a fifty day moving average of $212.49 and a 200-day moving average of $204.93.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

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.