National Bank of Canada FI Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• National Bank of Canada FI increased its stake in Broadridge Financial Solutions by 49%, acquiring an additional 32,969 shares, bringing its total ownership to 100,290 shares worth approximately $24.3 million.
• Broadridge Financial Solutions plans to increase its quarterly dividend to $0.975, up from $0.88, reflecting an annualized yield of 1.5%.
• The company's recent earnings report showed better-than-expected results, with earnings per share of $3.55, exceeding estimates by $0.04, and revenue of $2.07 billion.

National Bank of Canada FI grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 49.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,290 shares of the business services provider's stock after purchasing an additional 32,969 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Broadridge Financial Solutions worth $24,315,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BR. Golden State Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Continuum Advisory LLC increased its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares during the last quarter. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $36,000. Institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. Royal Bank Of Canada reaffirmed 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 raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and an average target price of $261.50.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions 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 completion of the transaction, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,477 shares of company stock valued at $5,093,784. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded down $0.27 during trading hours on Friday, reaching $258.96. The stock had a trading volume of 115,820 shares, compared to its average volume of 585,104. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day simple moving average of $245.10 and a 200 day simple moving average of $239.62. Broadridge Financial Solutions, Inc. has a 12-month low of $206.95 and a 12-month high of $271.91. The stock has a market cap of $30.33 billion, a P/E ratio of 36.46 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the business posted $3.50 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.975 dividend. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 49.65%.

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.