Mirae Asset Global Investments Co. Ltd. Sells 3,272 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mirae Asset Global Investments Co. Ltd. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter worth about $580,000. Smartleaf Asset Management LLC grew its stake in shares of Broadridge Financial Solutions by 37.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the business services provider's stock valued at $157,000 after buying an additional 192 shares in the last quarter. Norden Group LLC increased its holdings in Broadridge Financial Solutions by 9.2% in the fourth quarter. Norden Group LLC now owns 1,805 shares of the business services provider's stock worth $408,000 after buying an additional 152 shares during the last quarter. Jones Financial Companies Lllp raised its position in Broadridge Financial Solutions by 33.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,353 shares of the business services provider's stock valued at $758,000 after acquiring an additional 839 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $79,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR stock traded up $4.11 during midday trading on Friday, hitting $242.13. 321,244 shares of the company traded hands, compared to its average volume of 528,083. Broadridge Financial Solutions, Inc. has a twelve month low of $198.71 and a twelve month high of $247.01. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 36.41 and a beta of 0.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The business has a 50 day simple moving average of $239.46 and a 200-day simple moving average of $235.72.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. Broadridge Financial Solutions's payout ratio is 52.93%.

Analyst Upgrades and Downgrades

Several analysts have commented on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price objective 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president owned 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock worth $4,352,298 in the last ninety days. Company insiders own 1.30% of the company's stock.

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.