Desjardins Global Asset Management Inc. Buys 86 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Desjardins Global Asset Management Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 715 shares of the business services provider’s stock after buying an additional 86 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. raised its position in Broadridge Financial Solutions by 10.7% in the 1st quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock valued at $1,270,000 after purchasing an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Broadridge Financial Solutions by 6.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after purchasing an additional 992 shares during the last quarter. Raymond James Trust N.A. raised its position in Broadridge Financial Solutions by 126.2% in the 1st quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 1,888 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Broadridge Financial Solutions by 1,851.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 500 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Broadridge Financial Solutions by 13.2% in the 1st quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 0.2 %

NYSE BR opened at $192.98 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a twelve month low of $139.52 and a twelve month high of $210.24. The company has a market cap of $22.73 billion, a price-to-earnings ratio of 33.62 and a beta of 0.99. The business’s fifty day moving average is $200.84 and its 200 day moving average is $193.89.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $0.91 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BR. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James raised their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

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.