Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 38.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,649 shares of the business services provider's stock after buying an additional 92,365 shares during the quarter. Royal Bank of Canada owned 0.29% of Broadridge Financial Solutions worth $75,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Broadridge Financial Solutions by 50.0% in 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. Norges Bank bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at about $106,904,000. Raymond James Financial Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $104,466,000. Corient Private Wealth LLC grew its stake in Broadridge Financial Solutions by 882.9% in the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Broadridge Financial Solutions by 24.4% during the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after acquiring an additional 314,323 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the sale, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,302 shares of company stock worth $30,242,095 over the last quarter. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Down 0.3%

Shares of BR stock traded down $0.65 during trading hours on Friday, reaching $237.39. 389,847 shares of the company's stock were exchanged, compared to its average volume of 530,430. The stock's 50 day moving average is $235.40 and its 200-day moving average is $233.56. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 37.15 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.23 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BR. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $250.83.

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.