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

Corient Private Wealth LLC grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 882.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 owned approximately 0.37% of Broadridge Financial Solutions worth $99,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Qsemble Capital Management LP purchased a new position in Broadridge Financial Solutions during the third quarter worth about $1,412,000. Horizon Kinetics Asset Management LLC purchased a new stake in Broadridge Financial Solutions during the third quarter valued at about $483,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $2,251,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert N. Duelks sold 485 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $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. Insiders sold 124,754 shares of company stock valued at $29,397,793 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $227.76 on Monday. The stock has a fifty day moving average of $235.40 and a 200 day moving average of $226.11. The firm has a market capitalization of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05. 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, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results 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 period in the prior year, the company posted $0.92 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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 given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analyst Weigh In

BR has been the topic of a number of analyst reports. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.17.

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.