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

Canada Pension Plan Investment Board boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,001 shares of the business services provider’s stock after buying an additional 4,102 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Broadridge Financial Solutions were worth $27,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Adero Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 46 shares during the last quarter. Advisors Capital Management LLC raised its holdings in Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock worth $326,000 after purchasing an additional 49 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after buying an additional 52 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on BR shares. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, UBS Group raised their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $241.00.

Insider Activity

In other news, VP Laura Matlin sold 514 shares of the 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 of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $236.00 on Friday. The firm has a market cap of $27.62 billion, a P/E ratio of 36.93 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. The business’s 50-day moving average price is $235.11 and its 200 day moving average price is $230.08. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $0.92 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.