Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 20,495 shares of the business services provider’s stock, valued at approximately $4,407,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $51,000. PNC Financial Services Group Inc. grew its position in Broadridge Financial Solutions by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,948 shares of the business services provider’s stock worth $10,740,000 after acquiring an additional 504 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth about $44,746,000. Meeder Asset Management Inc. raised its position in Broadridge Financial Solutions by 0.4% in the third quarter. Meeder Asset Management Inc. now owns 41,583 shares of the business services provider’s stock valued at $8,942,000 after purchasing an additional 176 shares during the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Broadridge Financial Solutions by 12.0% during the third quarter. Caprock Group LLC now owns 4,113 shares of the business services provider’s stock valued at $888,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $230.24 on Friday. The business has a 50-day moving average price of $217.48 and a two-hundred day moving average price of $209.14. Broadridge Financial Solutions, Inc. has a 1-year low of $185.30 and a 1-year high of $230.30. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $26.91 billion, a P/E ratio of 39.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,033 shares of company stock valued at $18,149,572 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Company 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.