Broadridge Financial Solutions, Inc. (BR) Position Raised by Korea Investment CORP

Korea Investment CORP increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 90.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,100 shares of the business services provider’s stock after purchasing an additional 17,600 shares during the period. Korea Investment CORP’s holdings in Broadridge Financial Solutions were worth $2,998,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in shares of Broadridge Financial Solutions by 5.0% during the third quarter. Aperio Group LLC now owns 94,080 shares of the business services provider’s stock valued at $7,604,000 after acquiring an additional 4,465 shares during the last quarter. TIAA FSB increased its position in shares of Broadridge Financial Solutions by 7.7% during the third quarter. TIAA FSB now owns 52,007 shares of the business services provider’s stock valued at $4,203,000 after acquiring an additional 3,736 shares during the last quarter. First Trust Advisors LP increased its position in shares of Broadridge Financial Solutions by 68.6% during the third quarter. First Trust Advisors LP now owns 279,708 shares of the business services provider’s stock valued at $22,606,000 after acquiring an additional 113,768 shares during the last quarter. Fox Run Management L.L.C. increased its position in shares of Broadridge Financial Solutions by 93.3% during the third quarter. Fox Run Management L.L.C. now owns 17,200 shares of the business services provider’s stock valued at $1,390,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Alta Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 133.0% in the third quarter. Alta Capital Management LLC now owns 454,536 shares of the business services provider’s stock valued at $36,735,000 after purchasing an additional 259,450 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

BR has been the subject of several recent research reports. BidaskClub lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective for the company. Finally, Barclays PLC raised their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th.

Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $86.84 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $10,120.66, a P/E ratio of 27.57, a P/E/G ratio of 2.36 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.68 earnings per share for the current fiscal year.

In related news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the transaction, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. Insiders sold 119,720 shares of company stock valued at $9,679,916 in the last quarter. 2.60% of the stock is owned by insiders.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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