Connor Clark & Lunn Investment Management Ltd. Invests $4.41 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,495 shares of the business services provider’s stock, valued at approximately $4,407,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Bogart Wealth LLC raised its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions in the first quarter valued at $34,000. Finally, Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BR shares. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a report on Thursday. They issued a “neutral” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $222.43.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $230.24 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market cap of $26.91 billion, a price-to-earnings ratio of 39.83 and a beta of 1.05. The stock’s fifty day moving average price is $217.48 and its two-hundred day moving average price is $209.14. Broadridge Financial Solutions, Inc. has a one year low of $185.30 and a one year high of $230.30.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast 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 Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,033 shares of company stock worth $18,149,572. 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.