Addenda Capital Inc. Acquires 5,209 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Addenda Capital Inc. grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,548 shares of the business services provider’s stock after acquiring an additional 5,209 shares during the quarter. Addenda Capital Inc.’s holdings in Broadridge Financial Solutions were worth $11,693,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BR. Qsemble Capital Management LP bought a new position in Broadridge Financial Solutions in the 3rd quarter worth about $1,412,000. Atria Investments Inc lifted its position in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after buying an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after buying an additional 3,753 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in shares of Broadridge Financial Solutions by 82.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after acquiring an additional 3,216 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, the insider now owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BR shares. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. DA Davidson increased their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $230.35 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.96. The stock has a market capitalization of $26.93 billion, a PE ratio of 39.85 and a beta of 1.08. The stock has a 50-day simple moving average of $229.51 and a 200-day simple moving average of $218.25.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

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.