Broadridge Financial Solutions, Inc. (NYSE:BR) is Confluence Investment Management LLC's 8th Largest Position

Confluence Investment Management LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 609,740 shares of the business services provider's stock after selling 22,476 shares during the period. Broadridge Financial Solutions makes up 2.1% of Confluence Investment Management LLC's portfolio, making the stock its 8th largest position. Confluence Investment Management LLC owned approximately 0.52% of Broadridge Financial Solutions worth $147,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $34,000. Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $36,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $41,000. Curio Wealth LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $45,000. Finally, Promus Capital LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 22,357 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at $12,355,220.52. This trade represents a 29.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,873 shares of company stock worth $31,337,863 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Down 1.0%

Shares of NYSE:BR traded down $2.53 during mid-day trading on Monday, reaching $240.30. 123,437 shares of the company's stock were exchanged, compared to its average volume of 522,309. The firm has a market capitalization of $28.23 billion, a price-to-earnings ratio of 37.60 and a beta of 0.98. The business's fifty day moving average price is $235.89 and its 200-day moving average price is $234.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. Broadridge Financial Solutions's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.23 earnings per share. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions's payout ratio is 52.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $250.83.

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.