Korea Investment CORP Buys New Position in Broadridge Financial Solutions, Inc. $BR

Korea Investment CORP bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) in the second quarter, Holdings Channel.com reports. The fund bought 34,688 shares of the business services provider’s stock, valued at approximately $4,751,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth $20,853,000. Callan Family Office LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at $2,570,000. Paralel Advisors LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $1,947,000. Allworth Financial LP bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth about $365,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth about $7,372,000. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley upped their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Needham & Company LLC cut their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Royal Bank Of Canada lifted their price objective on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, UBS Group reiterated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.86.

View Our Latest Stock Report on Broadridge Financial Solutions

Broadridge Financial Solutions Trading Up 1.9%

Shares of BR stock opened at $185.61 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 19.29 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $263.00. The company has a 50-day simple moving average of $153.56 and a two-hundred day simple moving average of $160.27.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be given a $1.09 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. This represents a $4.36 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Broadridge Financial Solutions’s payout ratio is presently 40.54%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider owned 1 shares in the company, valued at $155. This represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

About Broadridge Financial Solutions

(Free Report)

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

See Also

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BRFree Report).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.