Confluence Investment Management LLC Lowers Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Confluence Investment Management LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,216 shares of the business services provider’s stock after selling 10,174 shares during the period. Broadridge Financial Solutions makes up approximately 2.0% of Confluence Investment Management LLC’s investment portfolio, making the stock its 7th biggest position. Confluence Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $142,938,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Qsemble Capital Management LP bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $1,412,000. Atria Investments Inc lifted its position in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares during the period. Horizon Kinetics Asset Management LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $483,000. Quest Partners LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter valued at about $2,251,000. Finally, Legacy Capital Wealth Partners LLC raised its position in shares of Broadridge Financial Solutions by 82.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock valued at $1,528,000 after buying an additional 3,216 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 over the last three months. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.2 %

Broadridge Financial Solutions stock traded up $0.37 during trading hours on Thursday, hitting $226.46. The stock had a trading volume of 99,701 shares, compared to its average volume of 514,814. The business’s 50 day simple moving average is $226.52 and its 200-day simple moving average is $215.53. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96. The stock has a market cap of $26.47 billion, a price-to-earnings ratio of 39.18 and a beta of 1.07. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $1.09 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BR. DA Davidson increased their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.71.

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.