National Bank of Canada FI Buys 1,723 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

National Bank of Canada FI increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,336 shares of the business services provider’s stock after acquiring an additional 1,723 shares during the period. National Bank of Canada FI’s holdings in Broadridge Financial Solutions were worth $7,063,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp increased its position in shares of Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after acquiring an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. raised its holdings in Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after purchasing an additional 381,882 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Broadridge Financial Solutions by 601.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 132,831 shares of the business services provider’s stock worth $27,330,000 after acquiring an additional 113,905 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $227,750,000. Finally, Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 1,865.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock worth $19,209,000 after acquiring an additional 88,613 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BR. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Raymond James lifted their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Up 1.4 %

NYSE:BR opened at $193.04 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a market cap of $22.73 billion, a price-to-earnings ratio of 33.63 and a beta of 0.98. The stock has a fifty day simple moving average of $199.85 and a 200-day simple moving average of $195.61. Broadridge Financial Solutions, Inc. has a twelve month low of $144.54 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.66%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 25,761 shares of company stock valued at $5,223,959 over the last ninety days. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions 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.