Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,321 shares of the business services provider's stock after selling 49,641 shares during the period. Mackenzie Financial Corp owned about 0.15% of Broadridge Financial Solutions worth $42,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at $29,000. Whipplewood Advisors LLC boosted its holdings in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter worth $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $34,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BR shares. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and a consensus price target of $250.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the transaction, the director directly owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director directly owned 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

BR stock traded down $2.90 during mid-day trading on Friday, reaching $244.61. The company's stock had a trading volume of 534,573 shares, compared to its average volume of 568,426. The stock has a market cap of $28.73 billion, a PE ratio of 36.78 and a beta of 0.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $257.65. The company's 50 day moving average is $241.25 and its two-hundred day moving average is $237.73.

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 for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $2.23 EPS. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 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.