National Bank of Canada FI Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

National Bank of Canada FI cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,321 shares of the business services provider’s stock after selling 4,887 shares during the period. National Bank of Canada FI owned approximately 0.06% of Broadridge Financial Solutions worth $15,223,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock worth $17,244,000 after buying an additional 7,077 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Broadridge Financial Solutions by 4.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider’s stock valued at $1,041,000 after purchasing an additional 200 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $2,325,000. IHT Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth $288,000. Finally, Royal London Asset Management Ltd. boosted its stake in Broadridge Financial Solutions by 80.7% during the third quarter. Royal London Asset Management Ltd. now owns 95,305 shares of the business services provider’s stock worth $20,493,000 after buying an additional 42,556 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 6.1 %

BR opened at $225.19 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s fifty day moving average is $237.48 and its two-hundred day moving average is $228.53. The company has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company earned $0.92 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BR. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group raised their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company Profile

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.