CIBC Asset Management Inc Has $3.71 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

CIBC Asset Management Inc boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,244 shares of the business services provider’s stock after purchasing an additional 1,161 shares during the period. CIBC Asset Management Inc’s holdings in Broadridge Financial Solutions were worth $3,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. ING Groep NV lifted its position in Broadridge Financial Solutions by 233.7% during the third quarter. ING Groep NV now owns 53,069 shares of the business services provider’s stock worth $11,411,000 after acquiring an additional 37,166 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Broadridge Financial Solutions by 1.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,445 shares of the business services provider’s stock valued at $741,000 after acquiring an additional 62 shares during the last quarter. Curi RMB Capital LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $254,000. Zions Bancorporation N.A. lifted its holdings in Broadridge Financial Solutions by 16.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 7,666 shares of the business services provider’s stock worth $1,648,000 after buying an additional 1,058 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Broadridge Financial Solutions by 2.8% in the 3rd quarter. Huntington National Bank now owns 2,233 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 61 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 6,501 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $210.22, for a total value of $1,366,640.22. Following the completion of the transaction, the president now owns 67,771 shares of the company’s stock, valued at $14,246,819.62. The trade was a 8.75 % 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 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,534 shares of company stock valued at $24,748,962. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BR shares. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $217.83.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of BR stock opened at $227.08 on Tuesday. The company has a market cap of $26.54 billion, a PE ratio of 39.29 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s 50 day simple moving average is $216.28 and its two-hundred day simple moving average is $208.45. Broadridge Financial Solutions, Inc. has a 1 year low of $182.57 and a 1 year high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

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.