Bank of Nova Scotia Purchases 77,169 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of Nova Scotia boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 428.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,177 shares of the business services provider's stock after acquiring an additional 77,169 shares during the quarter. Bank of Nova Scotia owned 0.08% of Broadridge Financial Solutions worth $21,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $41,000. Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Salem Investment Counselors Inc. raised its position in Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $52,000. 90.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company's stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares of the company's stock, 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. In the last 90 days, insiders sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company's stock.

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Broadridge Financial Solutions Trading Up 1.4 %

BR stock traded up $3.18 during midday trading on Friday, hitting $231.56. 574,975 shares of the company's stock were exchanged, compared to its average volume of 521,708. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $247.01. The stock's fifty day moving average price is $235.60 and its 200-day moving average price is $229.30. The company has a market cap of $27.10 billion, a PE ratio of 36.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 previous year, the business posted $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Analyst Ratings Changes

BR has been the subject of a number of research analyst reports. Morgan Stanley lifted 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. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $241.00.

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.