Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 250.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,459 shares of the business services provider’s stock after acquiring an additional 76,802 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Broadridge Financial Solutions worth $26,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BR. D.A. Davidson & CO. purchased a new stake in Broadridge Financial Solutions in the first quarter worth approximately $217,000. Nordea Investment Management AB lifted its holdings in shares of Broadridge Financial Solutions by 40.8% in the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after acquiring an additional 63,798 shares during the last quarter. Triangle Securities Wealth Management purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $784,000. Abacus FCF Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $12,865,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Broadridge Financial Solutions by 14.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,523 shares of the business services provider’s stock worth $3,772,000 after purchasing an additional 1,952 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BR. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley decreased their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday. Finally, DA Davidson restated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $264.83.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the transaction, the chief executive officer owned 143,285 shares in the company, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the transaction, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $221.83 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm’s fifty day simple moving average is $236.59 and its 200 day simple moving average is $241.81. The stock has a market cap of $25.89 billion, a P/E ratio of 28.40 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

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.