Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing 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’s holdings in Broadridge Financial Solutions were worth $15,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in 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 acquiring an additional 7,077 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Broadridge Financial Solutions by 4.3% in the third 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 period. Verition Fund Management LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter worth about $2,325,000. IHT Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $288,000. Finally, Royal London Asset Management Ltd. boosted its position in Broadridge Financial Solutions by 80.7% in the third quarter. Royal London Asset Management Ltd. now owns 95,305 shares of the business services provider’s stock valued at $20,493,000 after buying an additional 42,556 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 6.1 %

Shares of Broadridge Financial Solutions stock opened at $225.19 on Friday. The firm has a 50-day simple moving average of $237.48 and a two-hundred day simple moving average of $228.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The company has a market cap of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $0.92 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BR shares. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $241.00.

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.