Mirae Asset Global Investments Co. Ltd. Sells 28,788 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mirae Asset Global Investments Co. Ltd. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 60.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,202 shares of the business services provider’s stock after selling 28,788 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $3,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Broadridge Financial Solutions in the third quarter worth approximately $25,000. Money Concepts Capital Corp raised its holdings in Broadridge Financial Solutions by 400.0% in the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock worth $26,000 after purchasing an additional 156 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at $27,000. Headinvest LLC bought a new stake in Broadridge Financial Solutions during the third quarter valued at about $32,000. Finally, First Command Advisory Services Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $34,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 1.1 %

Shares of Broadridge Financial Solutions stock opened at $193.56 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $139.52 and a twelve month high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average price of $201.05 and a 200-day moving average price of $193.90. The firm has a market cap of $22.80 billion, a price-to-earnings ratio of 33.72 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James raised their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

About Broadridge Financial Solutions

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.