Procyon Advisors LLC Cuts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Procyon Advisors LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 33.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,005 shares of the business services provider’s stock after selling 511 shares during the period. Procyon Advisors LLC’s holdings in Broadridge Financial Solutions were worth $244,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC lifted its holdings in Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $36,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $45,000. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $52,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 0.7%

Shares of NYSE BR opened at $243.74 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a fifty day simple moving average of $236.20 and a two-hundred day simple moving average of $234.90. The firm has a market cap of $28.63 billion, a PE ratio of 38.14 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. Broadridge Financial Solutions’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $250.83.

Insider Buying and Selling

In other news, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now owns 1,070 shares of the company’s stock, valued at $251,685.40. The trade was a 49.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now directly owns 7,242 shares of the company’s stock, valued at $1,754,229.66. The trade was a 40.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 in the last ninety days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Company 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.