CANADA LIFE ASSURANCE Co Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

CANADA LIFE ASSURANCE Co raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,426 shares of the business services provider’s stock after buying an additional 17,242 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Broadridge Financial Solutions worth $27,539,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BR. LifeSteps Financial Inc. purchased a new position in shares of Broadridge Financial Solutions in the first quarter worth $32,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $34,000. Manchester Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at $37,000. Finally, First PREMIER Bank purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $208.07 on Friday. The stock has a 50-day simple moving average of $200.58 and a two-hundred day simple moving average of $200.51. Broadridge Financial Solutions, Inc. has a 52-week low of $164.99 and a 52-week high of $211.85. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $24.59 billion, a PE ratio of 35.51 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 54.61%.

Analysts Set New Price Targets

BR has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Finally, DA Davidson reiterated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% 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.