Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 57.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,319 shares of the business services provider's stock after buying an additional 11,824 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Broadridge Financial Solutions were worth $7,307,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC boosted its stake in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock valued at $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC raised its position in Broadridge Financial Solutions by 246.7% in the fourth 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. FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions in the third quarter valued at about $39,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions in the fourth quarter valued at about $41,000. Finally, Truvestments Capital LLC bought a new position in Broadridge Financial Solutions in the third quarter valued at about $45,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. DA Davidson reiterated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. 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 report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research 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 stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and an average price target of $239.17.

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Broadridge Financial Solutions Trading Up 1.8 %

Shares of BR traded up $4.17 during mid-day trading on Wednesday, reaching $235.40. 518,734 shares of the company were exchanged, compared to its average volume of 517,839. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $27.55 billion, a PE ratio of 36.84 and a beta of 1.05. The business has a 50 day simple moving average of $235.61 and a two-hundred day simple moving average of $226.37.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data 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 prior year, the business earned $0.92 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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 yield of 1.50%. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by corporate insiders.

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.