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

Corient Private Wealth LLC grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 882.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 437,171 shares of the business services provider’s stock after buying an additional 392,695 shares during the period. Corient Private Wealth LLC’s holdings in Broadridge Financial Solutions were worth $99,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Adero Partners LLC grew its holdings in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC grew its stake in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the period. Avestar Capital LLC increased its holdings in shares of Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after buying an additional 57 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Morgan Stanley upped their price objective on shares of 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $227.76 on Monday. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The firm has a 50-day simple moving average of $235.40 and a 200-day simple moving average of $226.11. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its 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 net margin of 11.36% and a return on equity of 44.40%. During the same period last year, the business posted $0.92 EPS. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 in the last quarter. Company insiders own 1.30% of the company’s stock.

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.