CIBC Private Wealth Group LLC Lowers Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

CIBC Private Wealth Group LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 436,109 shares of the business services provider’s stock after selling 5,244 shares during the quarter. CIBC Private Wealth Group LLC owned 0.37% of Broadridge Financial Solutions worth $100,083,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its position in shares of Broadridge Financial Solutions by 24.5% in the third quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock worth $1,335,000 after acquiring an additional 1,219 shares during the period. Algert Global LLC acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth about $542,000. D.A. Davidson & CO. purchased a new position in Broadridge Financial Solutions during the third quarter worth approximately $212,000. FMR LLC grew its holdings in Broadridge Financial Solutions by 9.7% in the third quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock valued at $17,244,000 after purchasing an additional 7,077 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Broadridge Financial Solutions by 3.3% in the third quarter. Glenmede Trust Co. NA now owns 4,419 shares of the business services provider’s stock valued at $950,000 after buying an additional 143 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BR shares. JPMorgan Chase & Co. lifted 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. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Stock Performance

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

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.