Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,833 shares of the business services provider's stock after selling 3,272 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Broadridge Financial Solutions were worth $3,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. CWA Asset Management Group LLC lifted its stake in Broadridge Financial Solutions by 6.8% in the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after purchasing an additional 87 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Broadridge Financial Solutions by 12.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after purchasing an additional 72 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Broadridge Financial Solutions by 9.6% during the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after purchasing an additional 101 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $580,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $4.11 during mid-day trading on Friday, reaching $242.13. The stock had a trading volume of 321,244 shares, compared to its average volume of 527,511. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 1-year low of $198.71 and a 1-year high of $247.01. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 36.41 and a beta of 0.94. The business's fifty day moving average is $239.46 and its 200-day moving average is $235.63.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the company earned $2.23 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director directly owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 in the last three months. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BR. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $250.83.

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.