Korea Investment CORP Sells 30,734 Shares of Broadridge Financial Solutions, Inc. (BR)

Korea Investment CORP lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 29.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,143 shares of the business services provider’s stock after selling 30,734 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Broadridge Financial Solutions worth $9,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BR. Truvestments Capital LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $106,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $129,000. Fort L.P. bought a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $120,000. Signaturefd LLC boosted its stake in Broadridge Financial Solutions by 101.6% during the 2nd quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock worth $128,000 after acquiring an additional 562 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $154,000. 84.97% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions stock opened at $105.87 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $87.51 and a fifty-two week high of $138.24. The company has a market cap of $12.36 billion, a P/E ratio of 25.27, a PEG ratio of 2.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.69 and a current ratio of 1.69.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.68 by $0.11. The firm had revenue of $973.00 million for the quarter, compared to the consensus estimate of $970.19 million. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.94 annualized dividend and a yield of 1.83%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.

Several research firms recently weighed in on BR. SunTrust Banks began coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective on the stock. Sandler O’Neill reissued a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, Zacks Investment Research reissued a “buy” rating and set a $128.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, November 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $120.00.

In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 8,902 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total transaction of $879,072.50. Following the sale, the director now directly owns 36,530 shares in the company, valued at approximately $3,607,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Daly sold 47,192 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the sale, the chief executive officer now owns 387,336 shares in the company, valued at $51,945,630.96. The disclosure for this sale can be found here. Insiders have sold a total of 334,256 shares of company stock worth $43,588,422 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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

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