Korea Investment CORP Buys 12,149 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Korea Investment CORP grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,400 shares of the business services provider's stock after purchasing an additional 12,149 shares during the period. Korea Investment CORP owned about 0.08% of Broadridge Financial Solutions worth $19,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $769,000. Signature Estate & Investment Advisors LLC grew its stake in Broadridge Financial Solutions by 5.5% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 1,194 shares of the business services provider's stock worth $270,000 after purchasing an additional 62 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Broadridge Financial Solutions by 51.9% during the fourth quarter. Zions Bancorporation N.A. now owns 11,645 shares of the business services provider's stock worth $2,633,000 after buying an additional 3,979 shares during the period. FineMark National Bank & Trust raised its holdings in shares of Broadridge Financial Solutions by 1.9% in the 4th quarter. FineMark National Bank & Trust now owns 56,034 shares of the business services provider's stock valued at $12,669,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in Broadridge Financial Solutions by 1.2% during the 4th quarter. Modern Wealth Management LLC now owns 13,649 shares of the business services provider's stock worth $3,308,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently weighed in on BR. StockNews.com cut shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley raised their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Price Performance

BR stock traded down $3.41 during trading on Thursday, hitting $242.84. The company had a trading volume of 170,034 shares, compared to its average volume of 520,028. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $28.42 billion, a price-to-earnings ratio of 38.00 and a beta of 1.05. The business has a 50 day moving average of $237.66 and a 200 day moving average of $228.36.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Insiders Place Their Bets

In related news, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction dated 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 completion of the transaction, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Insiders own 1.30% of the company's stock.

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.