Mackenzie Financial Corp Sells 97,396 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mackenzie Financial Corp cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 30.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,962 shares of the business services provider's stock after selling 97,396 shares during the period. Mackenzie Financial Corp owned 0.19% of Broadridge Financial Solutions worth $51,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $36,000. Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $52,000. Institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. 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 business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,358 shares of company stock valued at $31,453,259. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BR. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, UBS Group raised their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded up $0.16 during trading hours on Wednesday, reaching $240.15. 385,480 shares of the company's stock were exchanged, compared to its average volume of 529,331. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 37.58 and a beta of 0.98. The company has a 50-day moving average of $235.56 and a 200 day moving average of $233.87. 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, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm posted $2.23 EPS. The business's revenue was up 5.0% compared to the same quarter last year. Research 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 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 1.47%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

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.