Bank of Nova Scotia Buys 70,263 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of Nova Scotia boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 642.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,202 shares of the business services provider’s stock after purchasing an additional 70,263 shares during the quarter. Bank of Nova Scotia owned about 0.07% of Broadridge Financial Solutions worth $16,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after acquiring an additional 1,456,847 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares in the last quarter. Northern Trust Corp boosted its holdings in Broadridge Financial Solutions by 5.6% in the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after acquiring an additional 70,258 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in Broadridge Financial Solutions by 1.3% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after acquiring an additional 14,005 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Broadridge Financial Solutions by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 880,395 shares of the business services provider’s stock worth $181,142,000 after acquiring an additional 33,101 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR traded up $5.07 during trading on Friday, hitting $200.77. The company’s stock had a trading volume of 2,491,325 shares, compared to its average volume of 539,862. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $198.86 and its 200 day simple moving average is $198.61. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 34.26 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a twelve month low of $144.54 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BR shares. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Sunday, May 12th. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $206.67.

Read Our Latest Stock Report on Broadridge Financial Solutions

Broadridge Financial Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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