Broadridge Financial Solutions, Inc. $BR Stake Lessened by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% during the second quarter, Holdings Channel.com reports. The fund owned 523,341 shares of the business services provider’s stock after selling 11,052 shares during the period. Confluence Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $71,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $346,304,000. Van ECK Associates Corp lifted its holdings in shares of Broadridge Financial Solutions by 110.6% in the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider’s stock valued at $329,239,000 after buying an additional 774,747 shares during the period. Pinebridge Investments LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at about $126,553,000. JPMorgan Chase & Co. grew its holdings in Broadridge Financial Solutions by 52.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,403,997 shares of the business services provider’s stock worth $313,330,000 after acquiring an additional 485,297 shares during the period. Finally, Amundi raised its position in Broadridge Financial Solutions by 67.5% in the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after acquiring an additional 426,587 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 2.3%

Broadridge Financial Solutions stock opened at $157.41 on Tuesday. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $271.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $18.21 billion, a P/E ratio of 16.85 and a beta of 0.87. The company’s fifty day simple moving average is $146.94 and its 200-day simple moving average is $164.00.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $0.975 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.5%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.76%.

Analysts Set New Price Targets

BR has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. DA Davidson decreased their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Needham & Company LLC cut their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group reduced their target price on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Weiss Ratings downgraded Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.57.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.