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

Confluence Investment Management LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 632,216 shares of the business services provider’s stock after selling 10,174 shares during the quarter. Broadridge Financial Solutions makes up 2.0% of Confluence Investment Management LLC’s portfolio, making the stock its 7th largest holding. Confluence Investment Management LLC owned about 0.54% of Broadridge Financial Solutions worth $142,938,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Bogart Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the third quarter worth approximately $38,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.2 %

Broadridge Financial Solutions stock traded up $0.37 during midday trading on Thursday, hitting $226.46. 99,701 shares of the stock were exchanged, compared to its average volume of 514,814. The stock has a market capitalization of $26.47 billion, a PE ratio of 39.18 and a beta of 1.07. The company has a fifty day simple moving average of $226.52 and a two-hundred day simple moving average of $215.53. 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, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping 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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BR. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, DA Davidson boosted 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 note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $226.71.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by company insiders.

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.