CIBC Private Wealth Group LLC Has $97.49 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

CIBC Private Wealth Group LLC decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 473,820 shares of the business services provider’s stock after selling 1,046 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.40% of Broadridge Financial Solutions worth $97,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Stifel Financial Corp boosted its holdings in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after acquiring an additional 381,882 shares during the period. APG Asset Management US Inc. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth $70,498,000. Norges Bank bought a new position in Broadridge Financial Solutions in the 4th quarter valued at $67,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Broadridge Financial Solutions by 28.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after purchasing an additional 323,051 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR traded up $0.40 on Tuesday, hitting $199.98. The company’s stock had a trading volume of 501,192 shares, compared to its average volume of 526,618. Broadridge Financial Solutions, Inc. has a 12 month low of $152.47 and a 12 month high of $210.24. The firm has a market cap of $23.63 billion, a P/E ratio of 34.13 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company’s 50 day simple moving average is $198.77 and its 200-day simple moving average is $198.99.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Broadridge Financial Solutions’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Analysts Set New Price Targets

BR has been the subject of several research reports. Evercore ISI restated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, May 12th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $206.67.

Get Our Latest Report on Broadridge Financial Solutions

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

About Broadridge Financial Solutions

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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