Confluence Investment Management LLC Sells 22,476 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Confluence Investment Management LLC decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.6% during the 1st quarter, HoldingsChannel reports. The fund owned 609,740 shares of the business services provider’s stock after selling 22,476 shares during the period. Broadridge Financial Solutions comprises approximately 2.1% of Confluence Investment Management LLC’s portfolio, making the stock its 8th largest holding. Confluence Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $147,838,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BR. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadridge Financial Solutions by 50.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $106,904,000. Raymond James Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $104,466,000. Corient Private Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock valued at $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Broadridge Financial Solutions by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider’s stock valued at $362,825,000 after acquiring an additional 314,323 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 3,607 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president now directly owns 6,077 shares of the company’s stock, valued at $1,441,829.02. The trade was a 37.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares of the company’s stock, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,873 shares of company stock valued at $31,337,863. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BR shares. Royal Bank of Canada reissued an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. 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. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Up 0.1%

Shares of NYSE:BR opened at $240.15 on Thursday. The business has a fifty day simple moving average of $235.71 and a 200 day simple moving average of $233.91. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. 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 firm has a market cap of $28.21 billion, a P/E ratio of 37.58 and a beta of 0.98.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

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.