Congress Wealth Management LLC DE Buys 3,151 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Congress Wealth Management LLC DE raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,242 shares of the business services provider's stock after purchasing an additional 3,151 shares during the period. Congress Wealth Management LLC DE owned approximately 0.07% of Broadridge Financial Solutions worth $17,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BR. Empowered Funds LLC lifted its position in Broadridge Financial Solutions by 32.5% in the third quarter. Empowered Funds LLC now owns 2,468 shares of the business services provider's stock worth $531,000 after purchasing an additional 606 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Broadridge Financial Solutions by 24.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider's stock valued at $1,335,000 after buying an additional 1,219 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth about $204,000. Cerity Partners LLC boosted its position in shares of Broadridge Financial Solutions by 58.1% during the 3rd quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider's stock valued at $4,713,000 after acquiring an additional 8,051 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Broadridge Financial Solutions in the third quarter valued at about $542,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

BR has been the topic of a number of recent research reports. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $241.00.

Broadridge Financial Solutions Price Performance

BR traded down $2.15 during midday trading on Friday, hitting $236.74. The company had a trading volume of 34,696 shares, compared to its average volume of 474,921. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The firm's 50-day simple moving average is $236.82 and its 200-day simple moving average is $227.38. The company has a market capitalization of $27.70 billion, a PE ratio of 36.99 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business earned $0.92 earnings per share. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Insider Activity

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 over the last quarter. 1.30% of the stock is currently owned by company 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.