Canada Pension Plan Investment Board Raises Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Canada Pension Plan Investment Board grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 97.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 105,871 shares of the business services provider’s stock after buying an additional 52,171 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Broadridge Financial Solutions were worth $21,689,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BR. LifeSteps Financial Inc. acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $34,000. Manchester Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. McClarren Financial Advisors Inc. increased its holdings in shares of Broadridge Financial Solutions by 73.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 87 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Broadridge Financial Solutions by 140.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 300 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 175 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BR shares. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada restated an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded up $4.56 during trading hours on Friday, reaching $212.63. 343,817 shares of the company’s stock were exchanged, compared to its average volume of 450,389. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $213.24. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 36.29 and a beta of 1.04. The company has a 50-day moving average of $200.77 and a 200 day moving average of $200.60.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

About Broadridge Financial Solutions

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.