Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 about 0.37% of Broadridge Financial Solutions worth $100,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. State Street Corp boosted its stake in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock worth $1,118,644,000 after buying an additional 51,439 shares during the period. Geode Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after buying an additional 15,208 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Broadridge Financial Solutions by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after acquiring an additional 43,533 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock worth $342,856,000 after acquiring an additional 5,813 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

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Analyst Upgrades and Downgrades

BR has been the topic of a number of analyst reports. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Morgan Stanley lifted 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. DA Davidson reiterated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at $12,355,220.52. The trade was a 29.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $5.41 on Thursday, hitting $240.84. The company's stock had a trading volume of 322,626 shares, compared to its average volume of 512,789. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $249.31. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 37.73 and a beta of 1.06. The stock has a 50 day moving average of $237.66 and a 200-day moving average of $228.36.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the business earned $0.92 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio is currently 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.