Broadridge Financial Solutions, Inc. $BR Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management reduced its Broadridge stake by 2.1%, selling 11,052 shares and retaining 523,341 shares worth approximately $71.7 million. Institutional investors collectively own 90.03% of the company.
• Analysts maintain a generally positive outlook, with four Buy and four Hold ratings. Broadridge has a consensus “Moderate Buy” rating and an average price target of $221.57.
• Broadridge shares opened at $157.41, near the lower end of their 12-month range, while the company pays a quarterly dividend of $0.975, equivalent to a 2.5% annual yield.

Confluence Investment Management LLC trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 523,341 shares of the business services provider's stock after selling 11,052 shares during the quarter. Confluence Investment Management LLC owned about 0.45% of Broadridge Financial Solutions worth $71,672,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BR. Strs Ohio grew its position in Broadridge Financial Solutions by 25.8% during the first quarter. Strs Ohio now owns 48,787 shares of the business services provider's stock valued at $7,927,000 after acquiring an additional 9,996 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth about $4,211,000. UNIVEST FINANCIAL Corp purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth about $8,227,000. New Age Alpha Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 51.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider's stock valued at $8,237,000 after purchasing an additional 12,569 shares in the last quarter. Finally, Cvfg LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $2,463,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BR. UBS Group dropped their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. DA Davidson dropped their price objective on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Needham & Company LLC reduced their target price 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. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, June 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.57.

Broadridge Financial Solutions Stock Performance

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 market capitalization of $18.21 billion, a price-to-earnings ratio of 16.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The firm's fifty day moving average price is $146.94 and its 200 day moving average price is $164.00.

Broadridge Financial Solutions Announces Dividend

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

Insider Transactions at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider directly owned 1 shares of the company's stock, valued at $155. This represents a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source