AGF Management Ltd. Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

AGF Management Ltd. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,114 shares of the business services provider's stock, valued at approximately $2,513,000.

Several other large investors also recently bought and sold shares of BR. Assetmark Inc. increased its stake in shares of Broadridge Financial Solutions by 130.0% during the 3rd quarter. Assetmark Inc. now owns 667 shares of the business services provider's stock worth $143,000 after purchasing an additional 377 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $529,000. Sumitomo Mitsui Trust Group Inc. increased its position in Broadridge Financial Solutions by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 265,440 shares of the business services provider's stock worth $57,078,000 after buying an additional 2,715 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 13.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 3,091 shares of the business services provider's stock worth $665,000 after acquiring an additional 371 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at $210,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on BR shares. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. UBS Group lifted their price target 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. DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $239.17.

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Broadridge Financial Solutions Trading Up 1.6 %

BR stock traded up $3.56 on Monday, hitting $231.21. 765,512 shares of the company were exchanged, compared to its average volume of 472,939. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 36.18 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The business's fifty day moving average is $235.40 and its two-hundred day moving average is $226.11.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.52%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 in the last three months. 1.30% of the stock is currently owned by company insiders.

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.