Healthcare of Ontario Pension Plan Trust Fund Buys New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,542 shares of the business services provider’s stock, valued at approximately $4,432,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Broadridge Financial Solutions by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after buying an additional 110,886 shares during the last quarter. Stifel Financial Corp lifted its holdings in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after acquiring an additional 1,456,847 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares during the period. Northern Trust Corp lifted its holdings in Broadridge Financial Solutions by 5.6% during the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after acquiring an additional 70,258 shares during the period. Finally, Bahl & Gaynor Inc. lifted its holdings in Broadridge Financial Solutions by 1.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after acquiring an additional 14,005 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of a number of recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $199.27 on Wednesday. Broadridge Financial Solutions, Inc. has a 52 week low of $157.00 and a 52 week high of $210.24. The business has a 50-day simple moving average of $197.57 and a 200 day simple moving average of $199.61. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 34.01 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.