Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,635 shares of the business services provider’s stock after buying an additional 1,401 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $2,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of BR. American Century Companies Inc. raised its position in shares of Broadridge Financial Solutions by 10.7% in the first quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock valued at $1,270,000 after buying an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Broadridge Financial Solutions by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock worth $2,433,000 after purchasing an additional 992 shares during the last quarter. Raymond James Trust N.A. increased its position in Broadridge Financial Solutions by 126.2% during the first quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock worth $527,000 after purchasing an additional 1,888 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Broadridge Financial Solutions by 1,851.9% during the first quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock worth $82,000 after purchasing an additional 500 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Broadridge Financial Solutions by 13.2% during the first quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock worth $1,981,000 after purchasing an additional 1,487 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Laura Matlin sold 4,052 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $153.73, for a total value of $622,913.96. Following the completion of the transaction, the vice president now owns 5,825 shares of the company’s stock, valued at $895,477.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Laura Matlin sold 4,052 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $153.73, for a total value of $622,913.96. Following the completion of the transaction, the vice president now owns 5,825 shares in the company, valued at $895,477.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie A. Brun sold 6,900 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $148.98, for a total transaction of $1,027,962.00. Following the completion of the transaction, the director now owns 59,916 shares of the company’s stock, valued at approximately $8,926,285.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,179 shares of company stock valued at $8,158,444. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 1.4 %

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Shares of BR stock opened at $181.90 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.58 and a quick ratio of 1.35. The firm has a market cap of $21.49 billion, a PE ratio of 34.39 and a beta of 1.02. The company has a 50-day moving average of $164.62 and a two-hundred day moving average of $152.33. Broadridge Financial Solutions, Inc. has a 1-year low of $131.35 and a 1-year high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $3.21 EPS for the quarter, beating the consensus estimate of $3.10 by $0.11. Broadridge Financial Solutions had a net margin of 10.40% and a return on equity of 42.09%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 7.65 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.80 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.76%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BR shares. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $169.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James raised their price objective on shares of Broadridge Financial Solutions from $183.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson increased their target price on shares of Broadridge Financial Solutions from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, May 18th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $170.00.

Get Our Latest Stock Analysis on Broadridge Financial Solutions

About Broadridge Financial Solutions

(Free Report)

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.