Connor Clark & Lunn Investment Management Ltd. Buys 11,824 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 57.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,319 shares of the business services provider’s stock after purchasing an additional 11,824 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Broadridge Financial Solutions were worth $7,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Broadridge Financial Solutions by 9.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $163,000 after purchasing an additional 64 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $238,000. HighTower Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider’s stock worth $27,525,000 after acquiring an additional 1,881 shares in the last quarter. AGF Management Ltd. purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $2,513,000. Finally, Avantax Planning Partners Inc. boosted its stake in Broadridge Financial Solutions by 20.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 1,155 shares of the business services provider’s stock worth $261,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $227.76 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05. The business has a 50-day simple moving average of $235.40 and a two-hundred day simple moving average of $226.00. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the business earned $0.92 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.