CIBC Private Wealth Group LLC Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

CIBC Private Wealth Group LLC decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 436,109 shares of the business services provider’s stock after selling 5,244 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Broadridge Financial Solutions were worth $100,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BR. Norges Bank acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $106,904,000. Raymond James Financial Inc. acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $104,466,000. Corient Private Wealth LLC lifted its stake in Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock worth $99,186,000 after acquiring an additional 392,695 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after acquiring an additional 140,886 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $25,773,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.5 %

NYSE:BR opened at $237.60 on Monday. The company has a market capitalization of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The stock’s 50 day moving average price is $236.97 and its 200 day moving average price is $227.77. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the firm earned $0.92 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions 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.