Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,105 shares of the business services provider's stock after purchasing an additional 3,120 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Broadridge Financial Solutions were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. boosted its position in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider's stock valued at $1,279,000 after acquiring an additional 45 shares during the last quarter. Avestar Capital LLC lifted its position in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider's stock worth $268,000 after buying an additional 48 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock worth $345,000 after buying an additional 52 shares during the last quarter. UMB Bank n.a. lifted its position in Broadridge Financial Solutions by 5.5% in the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider's stock worth $248,000 after buying an additional 57 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Broadridge Financial Solutions by 12.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 526 shares of the business services provider's stock worth $119,000 after buying an additional 57 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,666 shares of company stock worth $5,050,766. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 0.4 %

BR stock traded up $0.96 during midday trading on Wednesday, reaching $242.53. The company's stock had a trading volume of 406,806 shares, compared to its average volume of 470,200. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. The stock has a fifty day simple moving average of $232.06 and a two-hundred day simple moving average of $222.04. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $243.00. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of 37.95 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business earned $0.92 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. DA Davidson restated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. UBS Group raised their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six equities 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 company currently has an average rating of "Hold" and an average target price of $239.17.

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.