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

Confluence Investment Management LLC lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,021 shares of the business services provider’s stock after selling 15,320 shares during the quarter. Broadridge Financial Solutions accounts for approximately 1.2% of Confluence Investment Management LLC’s portfolio, making the stock its 26th largest holding. Confluence Investment Management LLC owned about 0.45% of Broadridge Financial Solutions worth $81,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. QRG Capital Management Inc. grew its position in Broadridge Financial Solutions by 816.7% during the second quarter. QRG Capital Management Inc. now owns 98,425 shares of the business services provider’s stock valued at $13,479,000 after acquiring an additional 87,688 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadridge Financial Solutions by 218.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after acquiring an additional 10,266 shares during the last quarter. Andra AP fonden boosted its stake in shares of Broadridge Financial Solutions by 96.5% in the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock valued at $23,385,000 after purchasing an additional 83,857 shares in the last quarter. Silicon Valley Capital Partners bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $144,000. Finally, Security National Bank of SO Dak bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $26,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Up 0.7%

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

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

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed 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 is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s dividend payout ratio is 45.32%.

Analysts Set New Price Targets

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

Broadridge Financial Solutions Profile

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.