Waratah Capital Advisors Ltd. Acquires New Stake in Broadridge Financial Solutions, Inc. (BR)

Waratah Capital Advisors Ltd. acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, HoldingsChannel reports. The fund acquired 35,928 shares of the business services provider’s stock, valued at approximately $3,725,000.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in Broadridge Financial Solutions by 3.2% in the 1st quarter. Raymond James & Associates now owns 313,156 shares of the business services provider’s stock valued at $32,472,000 after purchasing an additional 9,726 shares during the last quarter. CIBC Asset Management Inc raised its stake in Broadridge Financial Solutions by 1.8% in the 1st quarter. CIBC Asset Management Inc now owns 16,066 shares of the business services provider’s stock valued at $1,666,000 after purchasing an additional 280 shares during the last quarter. Toronto Dominion Bank raised its stake in Broadridge Financial Solutions by 28.8% in the 1st quarter. Toronto Dominion Bank now owns 83,034 shares of the business services provider’s stock valued at $8,608,000 after purchasing an additional 18,571 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Broadridge Financial Solutions by 1.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 64,154 shares of the business services provider’s stock valued at $6,652,000 after purchasing an additional 700 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in Broadridge Financial Solutions by 19.5% in the 1st quarter. First Allied Advisory Services Inc. now owns 3,632 shares of the business services provider’s stock valued at $373,000 after purchasing an additional 593 shares during the last quarter. Institutional investors and hedge funds own 84.80% of the company’s stock.

In related news, VP Thomas P. Carey sold 1,215 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $108.82, for a total value of $132,216.30. Following the completion of the transaction, the vice president now directly owns 4,202 shares in the company, valued at $457,261.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Laura Matlin sold 3,875 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $118.99, for a total value of $461,086.25. Following the completion of the transaction, the vice president now owns 5,988 shares of the company’s stock, valued at $712,512.12. The disclosure for this sale can be found here. Insiders sold a total of 7,070 shares of company stock worth $792,015 in the last ninety days. 2.30% of the stock is owned by corporate insiders.



NYSE:BR traded up $1.97 during trading hours on Wednesday, hitting $120.68. The company had a trading volume of 11,114 shares, compared to its average volume of 948,413. The stock has a market cap of $13.62 billion, a P/E ratio of 28.70, a PEG ratio of 2.52 and a beta of 0.88. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. Broadridge Financial Solutions, Inc. has a 1 year low of $91.34 and a 1 year high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $1.00 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

BR has been the subject of several analyst reports. DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a report on Friday, February 8th. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Wednesday, April 10th. SunTrust Banks upped their target price on Broadridge Financial Solutions to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $124.50.

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Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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