National Bank of Canada FI Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

National Bank of Canada FI cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,321 shares of the business services provider's stock after selling 4,887 shares during the period. National Bank of Canada FI owned about 0.06% of Broadridge Financial Solutions worth $15,223,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the company's stock in a transaction that occurred 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 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 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 ninety days. 1.30% of the stock is owned by insiders.

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Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $8.34 during trading hours on Thursday, reaching $223.96. 178,756 shares of the stock traded hands, compared to its average volume of 539,708. The company's 50-day simple moving average is $236.00 and its two-hundred day simple moving average is $229.02. The company has a market capitalization of $26.21 billion, a P/E ratio of 35.05 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

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

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Thursday. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group upped their target price 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. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.