Amalgamated Bank Sells 125 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Amalgamated Bank lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,266 shares of the business services provider’s stock after selling 125 shares during the quarter. Amalgamated Bank’s holdings in Broadridge Financial Solutions were worth $4,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Price Performance

BR stock opened at $208.22 on Friday. The firm has a 50 day simple moving average of $210.46 and a two-hundred day simple moving average of $203.36. The stock has a market cap of $24.61 billion, a PE ratio of 35.53 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock valued at $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of analyst reports. DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target 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, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

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.