Waratah Capital Advisors Ltd. Purchases 23,041 Shares of Broadridge Financial Solutions, Inc. $BR

Waratah Capital Advisors Ltd. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 40.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,692 shares of the business services provider’s stock after acquiring an additional 23,041 shares during the quarter. Broadridge Financial Solutions accounts for 0.5% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 27th biggest holding. Waratah Capital Advisors Ltd. owned about 0.07% of Broadridge Financial Solutions worth $19,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BR. Vanguard Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 3.1% in the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after purchasing an additional 438,381 shares during the last quarter. Geode Capital Management LLC grew its stake in Broadridge Financial Solutions by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock worth $797,031,000 after acquiring an additional 136,386 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadridge Financial Solutions by 3.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider’s stock worth $425,610,000 after acquiring an additional 61,659 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Broadridge Financial Solutions by 3.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock worth $283,278,000 after acquiring an additional 38,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Broadridge Financial Solutions by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock valued at $261,071,000 after acquiring an additional 33,635 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BR shares. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Tuesday. Morgan Stanley cut 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. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson reiterated a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Finally, Needham & Company LLC boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $259.83.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Up 0.1%

NYSE:BR opened at $225.92 on Friday. The company’s 50-day simple moving average is $233.79 and its 200-day simple moving average is $241.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. Broadridge Financial Solutions, Inc. has a fifty-two week low of $212.33 and a fifty-two week high of $271.91. The stock has a market capitalization of $26.37 billion, a P/E ratio of 28.93 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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%. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

Broadridge Financial Solutions Company Profile

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.