Confluence Investment Management LLC Takes $144.03 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Confluence Investment Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, HoldingsChannel reports. The fund purchased 703,082 shares of the business services provider’s stock, valued at approximately $144,033,000. Broadridge Financial Solutions makes up approximately 1.9% of Confluence Investment Management LLC’s holdings, making the stock its 11th largest position.

Several other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in Broadridge Financial Solutions by 680.1% in the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after purchasing an additional 74,387 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $227,750,000. Bank of Nova Scotia boosted its stake in Broadridge Financial Solutions by 642.3% in the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after purchasing an additional 70,263 shares in the last quarter. Crown Oak Advisors LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $7,032,000. Finally, UBS Group AG boosted its stake in Broadridge Financial Solutions by 8.2% in the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after purchasing an additional 14,147 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.8 %

NYSE BR traded up $1.59 on Tuesday, reaching $199.24. The company had a trading volume of 91,876 shares, compared to its average volume of 510,432. The stock’s 50 day moving average is $197.73 and its 200-day moving average is $199.58. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 33.74 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52 week low of $157.00 and a 52 week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Analyst Upgrades and Downgrades

A number of research firms have commented on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $206.67.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.