Korea Investment CORP Has $19.99 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Korea Investment CORP boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,400 shares of the business services provider’s stock after buying an additional 12,149 shares during the period. Korea Investment CORP owned approximately 0.08% of Broadridge Financial Solutions worth $19,986,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BR. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC boosted its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $39,000. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $41,000. Finally, Curio Wealth LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.5 %

Broadridge Financial Solutions stock opened at $237.60 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58. The firm’s 50-day simple moving average is $236.97 and its 200 day simple moving average is $227.66.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on BR shares. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report 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. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. raised their price target 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. Finally, DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $241.00.

Insider Activity at Broadridge Financial Solutions

In related 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

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.