Investment Management Corp of Ontario Has $3.72 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Investment Management Corp of Ontario lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,458 shares of the business services provider's stock after buying an additional 1,732 shares during the period. Investment Management Corp of Ontario's holdings in Broadridge Financial Solutions were worth $3,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the period. Geode Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock worth $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock worth $378,175,000 after purchasing an additional 43,533 shares during the period. Finally, Barclays PLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after purchasing an additional 40,506 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares of the company's stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company's stock, valued at $1,180,132.80. The trade was a 8.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,473 shares of company stock valued at $29,072,366. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 1.2%

BR traded up $2.79 during midday trading on Thursday, hitting $240.28. 360,625 shares of the company were exchanged, compared to its average volume of 532,059. The firm has a market capitalization of $28.22 billion, a P/E ratio of 37.60 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. The firm's 50 day moving average price is $233.76 and its 200-day moving average price is $232.23. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $2.23 EPS. The business's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. DA Davidson reiterated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $250.83.

About Broadridge Financial Solutions

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.