MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,946 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,669 shares of the business services provider’s stock after buying an additional 1,946 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Broadridge Financial Solutions were worth $5,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BR. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 2.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after purchasing an additional 43,533 shares during the last quarter. Finally, Barclays PLC raised its position in Broadridge Financial Solutions by 2.5% in the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after purchasing an additional 40,506 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. The trade was a 8.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,473 shares of company stock worth $29,072,366. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BR. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. UBS Group lifted their price objective 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. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Finally, Morgan Stanley boosted their target price on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Up 0.4%

BR stock opened at $241.32 on Monday. The company has a market cap of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a fifty day moving average of $234.22 and a 200-day moving average of $232.90.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is presently 52.93%.

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.