CANADA LIFE ASSURANCE Co Buys 5,222 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

CANADA LIFE ASSURANCE Co grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 154,416 shares of the business services provider's stock after purchasing an additional 5,222 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.13% of Broadridge Financial Solutions worth $34,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Adero Partners LLC grew its holdings in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock worth $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC lifted its stake in Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after purchasing an additional 46 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after buying an additional 46 shares in the last quarter. Advisors Capital Management LLC grew its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock worth $326,000 after buying an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after buying an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BR shares. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. DA Davidson reissued a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Up 0.7 %

BR stock traded up $1.59 during midday trading on Thursday, reaching $237.85. The company had a trading volume of 126,292 shares, compared to its average volume of 532,939. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $27.83 billion, a P/E ratio of 37.22 and a beta of 1.06. The company has a 50 day moving average of $234.60 and a two-hundred day moving average of $230.35.

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 earnings per share (EPS) for the quarter, beating 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 earned $0.92 earnings per share. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders 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 1.48%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

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.