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

Congress Asset Management Co. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,799 shares of the business services provider's stock after acquiring an additional 1,579 shares during the quarter. Congress Asset Management Co. owned about 0.07% of Broadridge Financial Solutions worth $18,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BR. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $44,746,000. Assenagon Asset Management S.A. increased its stake in Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider's stock valued at $43,945,000 after purchasing an additional 198,169 shares during the period. Benjamin Edwards Inc. increased its stake in Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider's stock valued at $31,618,000 after purchasing an additional 140,886 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $274,650,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider's stock worth $42,765,000 after buying an additional 98,275 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. DA Davidson restated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Wednesday. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,666 shares of company stock valued at $5,050,766. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $2.80 during trading on Thursday, reaching $236.14. The company's stock had a trading volume of 438,837 shares, compared to its average volume of 464,859. The business has a 50 day moving average price of $232.75 and a 200-day moving average price of $223.09. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47. The company has a market capitalization of $27.63 billion, a P/E ratio of 36.95 and a beta of 1.08. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company posted $0.92 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions's payout ratio is currently 55.09%.

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.