Corient Private Wealth LLC Buys 392,695 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Corient Private Wealth LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 882.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437,171 shares of the business services provider's stock after purchasing an additional 392,695 shares during the quarter. Corient Private Wealth LLC owned 0.37% of Broadridge Financial Solutions worth $99,186,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BR. True Wealth Design LLC grew its stake in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC grew its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at about $41,000. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $39,000. Finally, Truvestments Capital LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $45,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 514 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following 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. In the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have commented on BR shares. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on 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. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $1.47 during trading hours on Thursday, hitting $233.90. 362,248 shares of the company's stock were exchanged, compared to its average volume of 472,258. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year 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 stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 36.60 and a beta of 1.05. The company's 50-day moving average price is $235.73 and its 200-day moving average price is $226.43.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data 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 firm posted $0.92 earnings per share. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

About Broadridge Financial Solutions

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.