Broadridge Financial Solutions (BR) : Confluence Investment Management reduced its stake in Broadridge Financial Solutions by 2.22% during the most recent quarter end. The investment management company now holds a total of 823,955 shares of Broadridge Financial Solutions which is valued at $56,177,252 after selling 18,684 shares in Broadridge Financial Solutions , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Broadridge Financial Solutions makes up approximately 1.51% of Confluence Investment Management’s portfolio.
Other Hedge Funds, Including , Hilton Capital Management boosted its stake in BR in the latest quarter, The investment management firm added 179,751 additional shares and now holds a total of 184,510 shares of Broadridge Financial Solutions which is valued at $12,579,892. Broadridge Financial Solutions makes up approx 4.13% of Hilton Capital Management’s portfolio.Shell Asset Management Co boosted its stake in BR in the latest quarter, The investment management firm added 75,474 additional shares and now holds a total of 132,830 shares of Broadridge Financial Solutions which is valued at $9,056,349. Broadridge Financial Solutions makes up approx 0.21% of Shell Asset Management Co’s portfolio.Eagle Asset Management Inc reduced its stake in BR by selling 59,432 shares or 13.06% in the most recent quarter. The Hedge Fund company now holds 395,704 shares of BR which is valued at $26,741,676. Broadridge Financial Solutions makes up approx 0.18% of Eagle Asset Management Inc’s portfolio.Wendell David Associates Inc boosted its stake in BR in the latest quarter, The investment management firm added 4,650 additional shares and now holds a total of 60,198 shares of Broadridge Financial Solutions which is valued at $4,068,181. Broadridge Financial Solutions makes up approx 0.78% of Wendell David Associates Inc’s portfolio.
Broadridge Financial Solutions opened for trading at $67.66 and hit $67.928 on the upside on Friday, eventually ending the session at $67.68, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 4,72,500 shares. Company has a market cap of $8,001 M.
On the company’s financial health, Broadridge Financial Solutions reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.51. The company had revenue of $688.80 million for the quarter, compared to analysts expectations of $686.40 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on Broadridge Financial Solutions. Barclays Downgraded Broadridge Financial Solutions on Jul 7, 2016 to ” Equal Weight”, Price Target of the shares are set at $67.Broadridge Financial Solutions was Downgraded by Avondale to ” Mkt Perform” on Jun 15, 2016. Broadridge Financial Solutions was Downgraded by Raymond James to ” Mkt Perform” on Jun 7, 2016.
Broadridge Financial Solutions Inc. (Broadridge) is a provider of investor communications and technology-driven solutions to banks broker-dealers mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle including pre-trade trade and post-trade processing. It serves a diverse client base across its five businesses: Bank/Broker-Dealer Investor Communication Solutions Corporate Issuer Solutions Advisor Solutions Mutual Fund and Retirement Solutions and Global Technology and Operations. Its businesses operate in two business segments: Investor Communication Solutions and Global Technology and Operations. Its services include investor communications securities processing and data and analytics solutions. It provides an infrastructure that helps the financial services industry operate. It provides financial services firms with integrated systems.