Mackenzie Financial Corp Decreases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mackenzie Financial Corp decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 30.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,962 shares of the business services provider's stock after selling 97,396 shares during the quarter. Mackenzie Financial Corp owned 0.19% of Broadridge Financial Solutions worth $51,088,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Adero Partners LLC raised its holdings in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after acquiring an additional 45 shares during the last quarter. Sunburst Financial Group LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after acquiring an additional 46 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after acquiring an additional 46 shares during the last quarter. Advisors Capital Management LLC raised its holdings in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after acquiring an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Trading Up 0.3%

Broadridge Financial Solutions stock traded up $0.67 during mid-day trading on Friday, hitting $240.39. The company's stock had a trading volume of 133,230 shares, compared to its average volume of 527,054. The firm has a market capitalization of $28.24 billion, a PE ratio of 37.61 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 company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock's fifty day moving average is $235.78 and its two-hundred day moving average is $234.00.

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

Broadridge Financial Solutions Announces Dividend

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

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the sale, the insider now directly owns 21,167 shares in the company, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The shares were 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 in the company, valued at approximately $12,355,220.52. The trade was a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,873 shares of company stock worth $31,337,863 over the last ninety days. Company insiders own 1.30% of the company's stock.

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.