Cibc World Markets Corp Has $4.17 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cibc World Markets Corp increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,461 shares of the business services provider’s stock after purchasing an additional 2,515 shares during the period. Cibc World Markets Corp’s holdings in Broadridge Financial Solutions were worth $4,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $1,412,000. Horizon Kinetics Asset Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $483,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after buying an additional 3,753 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after buying an additional 1,204 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 6,336 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.8 %

Broadridge Financial Solutions stock opened at $235.40 on Thursday. The company has a market capitalization of $27.55 billion, a P/E ratio of 36.84 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. 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 fifty day simple moving average is $235.73 and its 200-day simple moving average is $226.43.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $0.92 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company 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 $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Analyst Ratings Changes

A number of brokerages have issued reports on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Royal Bank of Canada lifted their target price 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. 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 report on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, 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 report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $239.17.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the firm’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 sale, the president now directly owns 52,524 shares in the company, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, 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. Insiders have sold 124,754 shares of company stock worth $29,397,793 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Company 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.