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

Confluence Investment Management LLC boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 811,925 shares of the business services provider’s stock after buying an additional 10,857 shares during the period. Broadridge Financial Solutions accounts for approximately 1.8% of Confluence Investment Management LLC’s portfolio, making the stock its 15th largest position. Confluence Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $115,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BR. Front Row Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $29,000. Riverview Trust Co bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $29,000. First Command Bank bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $30,000. Carl Stuart Investment Advisor Inc. bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $31,000. Finally, Oakworth Capital Inc. increased its position in shares of Broadridge Financial Solutions by 105.0% during the first quarter. Oakworth Capital Inc. now owns 205 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their price target on shares of Broadridge Financial Solutions from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, August 15th.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 72,983 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $175.35, for a total value of $12,797,569.05. Following the completion of the sale, the chairman now owns 143,170 shares of the company’s stock, valued at approximately $25,104,859.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 72,983 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $175.35, for a total value of $12,797,569.05. Following the completion of the sale, the chairman now owns 143,170 shares of the company’s stock, valued at approximately $25,104,859.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert Schifellite sold 69,616 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.18, for a total transaction of $12,473,794.88. Following the completion of the sale, the senior vice president now directly owns 57,616 shares of the company’s stock, valued at approximately $10,323,634.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,004 shares of company stock valued at $28,916,462. Company insiders own 1.90% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $163.63 on Monday. The company has a market capitalization of $19.19 billion, a P/E ratio of 35.96 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a 50 day moving average of $165.45 and a 200 day moving average of $153.17. Broadridge Financial Solutions, Inc. has a twelve month low of $132.40 and a twelve month high of $185.40.

Broadridge Financial Solutions (NYSE:BRGet Rating) last announced its quarterly earnings results on Friday, August 12th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. Broadridge Financial Solutions had a net margin of 9.44% and a return on equity of 42.29%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.19 earnings per share. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.07 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be given a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.64. Broadridge Financial Solutions’s payout ratio is 63.74%.

Broadridge Financial Solutions Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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