Investment Management Corp of Ontario Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Investment Management Corp of Ontario reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,726 shares of the business services provider’s stock after selling 1,101 shares during the quarter. Investment Management Corp of Ontario’s holdings in Broadridge Financial Solutions were worth $3,167,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $32,000. True Wealth Design LLC raised its position in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $232.09 on Wednesday. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.74. The company has a 50-day simple moving average of $220.54 and a 200-day simple moving average of $210.81. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $27.13 billion, a price-to-earnings ratio of 40.15 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.52%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Wall Street Analyst Weigh In

BR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $222.43.

Insider Buying and Selling

In other news, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,294 shares of company stock valued at $16,944,095 over the last ninety days. Corporate insiders own 1.30% 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.