Confluence Investment Management LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 986,328 shares of the business services provider’s stock after selling 1,669 shares during the period. Broadridge Financial Solutions comprises approximately 1.6% of Confluence Investment Management LLC’s portfolio, making the stock its 22nd biggest holding. Confluence Investment Management LLC owned about 0.85% of Broadridge Financial Solutions worth $89,342,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares in the last quarter. Wendell David Associates Inc. boosted its holdings in Broadridge Financial Solutions by 9.3% in the third quarter. Wendell David Associates Inc. now owns 71,316 shares of the business services provider’s stock valued at $5,764,000 after acquiring an additional 6,043 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Broadridge Financial Solutions by 1,647.4% in the second quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock valued at $542,669,000 after acquiring an additional 6,770,958 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Broadridge Financial Solutions in the second quarter valued at $296,000. Finally, JPMorgan Chase & Co. lifted its position in Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock valued at $40,590,000 after buying an additional 71,106 shares during the period. Hedge funds and other institutional investors own 83.50% of the company’s stock.
In other news, insider Robert Schifellite sold 49,181 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the sale, the insider now directly owns 149,181 shares of the company’s stock, valued at approximately $13,347,224.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Haviland sold 7,655 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the sale, the director now directly owns 44,482 shares in the company, valued at $3,937,101.82. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Several equities analysts have commented on BR shares. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Barclays lifted their price target on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. DA Davidson reaffirmed a “hold” rating and issued a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Raymond James Financial reissued a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $90.50.
Broadridge Financial Solutions, Inc. (BR) traded up $0.59 during trading on Monday, hitting $94.04. The company’s stock had a trading volume of 361,600 shares, compared to its average volume of 411,633. The company has a market cap of $10,960.60, a P/E ratio of 32.77, a P/E/G ratio of 2.53 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1-year low of $65.35 and a 1-year high of $94.31. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.25.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. The company had revenue of $925.00 million during the quarter, compared to the consensus estimate of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were paid a $0.365 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.46 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 50.87%.
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About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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