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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.2% in the 4th quarter, according to its most recent Form 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Broadridge Financial Solutions were worth $5,804,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. Park Place Capital Corp boosted its position in Broadridge Financial Solutions by 31.3% during the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after purchasing an additional 1,391 shares during the last quarter. Crown Oak Advisors LLC boosted its position in Broadridge Financial Solutions by 10.8% during the fourth quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock valued at $8,224,000 after purchasing an additional 3,553 shares during the last quarter. Tributary Capital Management LLC boosted its position in Broadridge Financial Solutions by 43.4% during the fourth quarter. Tributary Capital Management LLC now owns 5,003 shares of the business services provider’s stock valued at $1,131,000 after purchasing an additional 1,513 shares during the last quarter. Finally, Northstar Asset Management Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $2,750,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BR shares. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised 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. Royal Bank of Canada raised 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. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.83.

Insider Activity

In related news, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the sale, the president now owns 52,524 shares in the company, valued at $12,355,220.52. This represents a 29.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,473 shares of company stock worth $29,072,366. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $241.32 on Monday. The stock has a market capitalization of $28.35 billion, a PE ratio of 37.76 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The business has a fifty day moving average price of $234.22 and a two-hundred day moving average price of $232.90. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01.

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

Broadridge Financial Solutions Announces Dividend

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

Broadridge Financial Solutions Company 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.