National Bank of Canada FI Has $15.53 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

National Bank of Canada FI increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 59.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,208 shares of the business services provider’s stock after acquiring an additional 27,026 shares during the quarter. National Bank of Canada FI owned 0.06% of Broadridge Financial Solutions worth $15,527,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $32,000. True Wealth Design LLC grew 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 during the period. Finally, Family Firm Inc. bought a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock worth $12,264,846 in the last quarter. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. DA Davidson raised their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, Morgan Stanley increased their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Five investment 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, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $235.90 on Wednesday. The business’s fifty day simple moving average is $223.21 and its 200 day simple moving average is $212.19. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96. The firm has a market capitalization of $27.57 billion, a P/E ratio of 40.81 and a beta of 1.07.

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

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.