Broadridge Financial Solutions, Inc. $BR Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 226.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,051 shares of the business services provider’s stock after buying an additional 10,437 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Broadridge Financial Solutions were worth $2,445,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $346,304,000. Van ECK Associates Corp lifted its position in shares of Broadridge Financial Solutions by 110.6% in the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider’s stock valued at $329,239,000 after acquiring an additional 774,747 shares in the last quarter. Pinebridge Investments LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $126,553,000. JPMorgan Chase & Co. boosted its stake in shares of Broadridge Financial Solutions by 52.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,403,997 shares of the business services provider’s stock worth $313,330,000 after acquiring an additional 485,297 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Broadridge Financial Solutions by 6.7% in the fourth quarter. State Street Corp now owns 5,994,841 shares of the business services provider’s stock worth $1,343,572,000 after acquiring an additional 375,699 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

BR stock opened at $154.02 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $271.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $17.81 billion, a PE ratio of 16.49 and a beta of 0.89. The business has a 50 day simple moving average of $146.80 and a 200-day simple moving average of $164.86.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.09. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 41.76%.

Insider Activity

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares of the company’s stock, valued at $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on BR. DA Davidson reduced their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Needham & Company LLC lowered their target price on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, UBS Group reduced their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.57.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.