Broadridge Financial Solutions, Inc. $BR Stock Position Cut by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% in the 3rd quarter, Holdings Channel reports. The firm owned 508,021 shares of the business services provider’s stock after selling 15,320 shares during the period. Broadridge Financial Solutions makes up about 1.2% of Confluence Investment Management LLC’s portfolio, making the stock its 26th biggest position. Confluence Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $81,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of BR. Bontempo Ohly Capital Mgmt LLC raised its stake in Broadridge Financial Solutions by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,895 shares of the business services provider’s stock worth $4,217,000 after buying an additional 62 shares in the last quarter. Appleton Partners Inc. MA boosted its position in Broadridge Financial Solutions by 0.5% during the 1st quarter. Appleton Partners Inc. MA now owns 12,137 shares of the business services provider’s stock valued at $1,972,000 after acquiring an additional 65 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Broadridge Financial Solutions by 2.9% during the 2nd quarter. Allworth Financial LP now owns 2,662 shares of the business services provider’s stock worth $365,000 after acquiring an additional 74 shares during the period. Investors Research Corp grew its holdings in shares of Broadridge Financial Solutions by 1.2% during the 2nd quarter. Investors Research Corp now owns 6,425 shares of the business services provider’s stock worth $880,000 after acquiring an additional 75 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in shares of Broadridge Financial Solutions by 3.0% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,894 shares of the business services provider’s stock worth $397,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group restated a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

Broadridge Financial Solutions Stock Up 0.7%

Shares of BR traded up $1.21 during mid-day trading on Thursday, reaching $162.31. The company had a trading volume of 217,066 shares, compared to its average volume of 1,376,159. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 16.87 and a beta of 0.90. The firm has a 50-day moving average price of $168.45 and a 200 day moving average price of $158.28. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $238.73.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be given a $1.09 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s payout ratio is presently 45.32%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company’s services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.