Healthcare of Ontario Pension Plan Trust Fund Invests $1.55 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,200 shares of the business services provider’s stock, valued at approximately $1,548,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NBC Securities Inc. raised its stake in shares of Broadridge Financial Solutions by 0.8% during the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares during the last quarter. Avestar Capital LLC raised its position in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after buying an additional 50 shares during the period. Garrison Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after buying an additional 50 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after buying an additional 52 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BR shares. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $222.43.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. This represents a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock worth $16,944,095 in the last three months. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $236.02 on Monday. The stock’s 50 day moving average is $220.06 and its 200 day moving average is $210.54. The company has a market capitalization of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.74. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

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.