BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 8,551 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 61.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,556 shares of the business services provider's stock after buying an additional 8,551 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Broadridge Financial Solutions were worth $4,444,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BR. LifeSteps Financial Inc. bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $32,000. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions during the 1st quarter valued at approximately $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. DA Davidson reissued a "neutral" rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $213.33.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company's stock, valued at $13,938,374.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company's stock, valued at $13,938,374.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Broadridge Financial Solutions Stock Up 0.2 %

BR stock traded up $0.47 on Friday, reaching $212.22. 325,980 shares of the company traded hands, compared to its average volume of 528,284. The firm has a fifty day simple moving average of $210.67 and a 200-day simple moving average of $203.54. The company has a market cap of $25.08 billion, a P/E ratio of 36.13 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm earned $3.21 EPS. Broadridge Financial Solutions's quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. Broadridge Financial Solutions's dividend payout ratio is presently 60.07%.

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.