Broadridge Financial Solutions, Inc. (NYSE:BR) Position Boosted by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,461 shares of the business services provider’s stock after acquiring an additional 2,515 shares during the quarter. Cibc World Markets Corp’s holdings in Broadridge Financial Solutions were worth $4,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BR. GSA Capital Partners LLP acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $529,000. Victory Capital Management Inc. raised its stake in Broadridge Financial Solutions by 6.0% during the third quarter. Victory Capital Management Inc. now owns 50,736 shares of the business services provider’s stock worth $10,910,000 after acquiring an additional 2,871 shares during the period. Empowered Funds LLC raised its stake in Broadridge Financial Solutions by 32.5% during the third quarter. Empowered Funds LLC now owns 2,468 shares of the business services provider’s stock worth $531,000 after acquiring an additional 606 shares during the period. Thrivent Financial for Lutherans raised its stake in Broadridge Financial Solutions by 24.5% during 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. Finally, Swiss National Bank raised its stake in Broadridge Financial Solutions by 0.6% during the third quarter. Swiss National Bank now owns 350,800 shares of the business services provider’s stock worth $75,433,000 after acquiring an additional 2,100 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $235.40 on Thursday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $27.55 billion, a PE ratio of 36.84 and a beta of 1.05. The company’s 50 day simple moving average is $235.73 and its 200 day simple moving average is $226.43.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating 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. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BR. DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised 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 restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $239.17.

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.