140,888 Shares in Broadridge Financial Solutions, Inc. $BR Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 140,888 shares of the business services provider’s stock, valued at approximately $22,697,000.

Several other institutional investors have also recently bought and sold shares of BR. BlackRock Inc. bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at $1,473,918,000. Jupiter Topco LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $261,852,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $197,921,000. Bank of New York Mellon Corp bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth $101,738,000. Finally, Legal & General Group Plc bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth $99,172,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 3.0%

Shares of NYSE BR opened at $184.25 on Tuesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $233.10. The firm has a market capitalization of $20.80 billion, a P/E ratio of 19.15 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $171.67 and its 200 day simple moving average is $166.40.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.06. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business earned $3.55 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president owned 8,800 shares of the company’s stock, valued at $1,405,888. This represents a 22.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several research reports. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada lifted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. DA Davidson reiterated a “buy” rating and issued a $214.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Finally, UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.