Bank of Nova Scotia Has $1.56 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of Nova Scotia lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 26.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,617 shares of the business services provider’s stock after selling 4,125 shares during the quarter. Bank of Nova Scotia’s holdings in Broadridge Financial Solutions were worth $1,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Broadridge Financial Solutions by 0.9% in the third quarter. Vanguard Group Inc. now owns 14,043,423 shares of the business services provider’s stock valued at $2,026,747,000 after purchasing an additional 131,997 shares in the last quarter. BlackRock Inc. raised its stake in Broadridge Financial Solutions by 0.7% in the third quarter. BlackRock Inc. now owns 9,830,478 shares of the business services provider’s stock valued at $1,418,737,000 after purchasing an additional 64,035 shares in the last quarter. State Street Corp raised its stake in Broadridge Financial Solutions by 0.4% in the third quarter. State Street Corp now owns 4,654,571 shares of the business services provider’s stock valued at $675,108,000 after purchasing an additional 19,303 shares in the last quarter. Jensen Investment Management Inc. raised its stake in Broadridge Financial Solutions by 6.0% in the fourth quarter. Jensen Investment Management Inc. now owns 1,820,083 shares of the business services provider’s stock valued at $244,128,000 after purchasing an additional 102,405 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Broadridge Financial Solutions by 86.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock valued at $186,122,000 after purchasing an additional 554,807 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $153.72 on Tuesday. The company has a market capitalization of $18.14 billion, a PE ratio of 32.99 and a beta of 1.00. The company has a 50 day simple moving average of $145.41 and a two-hundred day simple moving average of $143.60. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $131.35 and a fifty-two week high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $2.01 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 6.91 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 62.23%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Richard John Stingi sold 750 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $155.27, for a total value of $116,452.50. Following the transaction, the vice president now directly owns 4,202 shares in the company, valued at approximately $652,444.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robert N. Duelks sold 1,425 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $141.06, for a total value of $201,010.50. Following the transaction, the director now directly owns 6,275 shares in the company, valued at approximately $885,151.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard John Stingi sold 750 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the transaction, the vice president now owns 4,202 shares in the company, valued at $652,444.54. The disclosure for this sale can be found here. Insiders sold a total of 21,922 shares of company stock valued at $3,335,277 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BR has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on Broadridge Financial Solutions in a research report on Monday, April 24th. They issued an “outperform” rating and a $169.00 target price on the stock. TheStreet upgraded Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research report on Thursday, February 2nd. Raymond James lifted their target price on Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Broadridge Financial Solutions in a report on Thursday, May 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.40.

About Broadridge Financial Solutions

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.