Mackenzie Financial Corp Sells 2,178 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mackenzie Financial Corp lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,028 shares of the business services provider’s stock after selling 2,178 shares during the period. Mackenzie Financial Corp owned about 0.32% of Broadridge Financial Solutions worth $78,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $1,089,000. Strs Ohio increased its holdings in Broadridge Financial Solutions by 34.2% during the fourth quarter. Strs Ohio now owns 35,571 shares of the business services provider’s stock worth $7,318,000 after buying an additional 9,071 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Broadridge Financial Solutions by 294.6% during the fourth quarter. Vontobel Holding Ltd. now owns 14,452 shares of the business services provider’s stock worth $2,974,000 after buying an additional 10,790 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Broadridge Financial Solutions by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,577 shares of the business services provider’s stock worth $58,552,000 after buying an additional 2,815 shares during the last quarter. Finally, Crown Oak Advisors LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $7,032,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $195.67 on Tuesday. The firm’s fifty day moving average price is $201.16 and its two-hundred day moving average price is $193.79. The stock has a market cap of $23.04 billion, a PE ratio of 34.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $210.24.

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 (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

Analysts Set New Price Targets

BR has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 approximately $2,674,169.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last ninety days. 1.60% of the stock is owned by company 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.