Connor Clark & Lunn Investment Management Ltd. Grows 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) by 57.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,319 shares of the business services provider’s stock after purchasing 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 institutional investors and hedge funds have also bought and sold shares of the company. Qsemble Capital Management LP bought a new position in shares of Broadridge Financial Solutions during the third quarter worth $1,412,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $483,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after buying an additional 1,204 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Broadridge Financial Solutions during the third quarter valued at approximately $2,251,000. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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. The trade was a 36.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $227.76 on Friday. The stock has a 50 day moving average price of $235.40 and a 200 day moving average price of $226.00. 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 firm has a market capitalization of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results 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 net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company earned $0.92 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.17.

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.