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

Korea Investment CORP raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.9% during the fourth quarter, Holdings Channel reports. The fund owned 88,400 shares of the business services provider’s stock after buying an additional 12,149 shares during the period. Korea Investment CORP’s holdings in Broadridge Financial Solutions were worth $19,986,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its holdings in Broadridge Financial Solutions by 24.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock valued at $1,335,000 after acquiring an additional 1,219 shares during the period. Algert Global LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $542,000. D.A. Davidson & CO. purchased a new position in shares of Broadridge Financial Solutions in the third quarter worth $212,000. FMR LLC boosted its position in Broadridge Financial Solutions by 9.7% during the 3rd quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock valued at $17,244,000 after buying an additional 7,077 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Broadridge Financial Solutions by 3.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,419 shares of the business services provider’s stock worth $950,000 after acquiring an additional 143 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $237.60 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. The business’s fifty day moving average is $236.97 and its 200 day moving average is $227.66. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) 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 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 EPS. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $241.00.

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.