Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 20.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,234 shares of the business services provider’s stock after acquiring an additional 2,554 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $2,043,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC lifted its position in Broadridge Financial Solutions by 17,757.1% during the 4th quarter. Manchester Capital Management LLC now owns 1,250 shares of the business services provider’s stock worth $168,000 after acquiring an additional 1,243 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Broadridge Financial Solutions by 43.2% in the fourth quarter. Pinebridge Investments L.P. now owns 136,127 shares of the business services provider’s stock valued at $18,259,000 after purchasing an additional 41,065 shares during the period. Kidder Stephen W acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $409,000. First Trust Advisors LP increased its stake in Broadridge Financial Solutions by 30.1% during the 4th quarter. First Trust Advisors LP now owns 654,202 shares of the business services provider’s stock worth $87,753,000 after buying an additional 151,540 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Broadridge Financial Solutions by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 836,287 shares of the business services provider’s stock worth $112,182,000 after buying an additional 3,666 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.
Insider Buying and Selling
In other Broadridge Financial Solutions news, VP Laura Matlin sold 4,052 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $153.73, for a total value of $622,913.96. Following the sale, the vice president now directly owns 5,825 shares of the company’s stock, valued at $895,477.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Broadridge Financial Solutions news, VP Laura Matlin sold 4,052 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $153.73, for a total value of $622,913.96. Following the sale, the vice president now owns 5,825 shares in the company, valued at $895,477.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard John Stingi sold 750 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the sale, the vice president now directly owns 4,202 shares in the company, valued at approximately $652,444.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,497 shares of company stock valued at $3,134,267. Insiders own 1.60% of the company’s stock.
Broadridge Financial Solutions Stock Performance
Broadridge Financial Solutions (NYSE:BR – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.01 by $0.04. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a $0.725 dividend. This represents a $2.90 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 62.23%.
Analyst Ratings Changes
Several brokerages have recently weighed in on BR. Royal Bank of Canada started coverage on Broadridge Financial Solutions in a research note on Monday, April 24th. They set an “outperform” rating and a $169.00 target price for the company. TheStreet upgraded Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. Raymond James lifted their price target on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, StockNews.com started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $161.40.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
Read More
- Get a free copy of the StockNews.com research report on Broadridge Financial Solutions (BR)
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