Mirae Asset Global Investments Co. Ltd. Purchases 140,888 Shares of Broadridge Financial Solutions, Inc. $BR

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 140,888 shares of the business services provider’s stock, valued at approximately $22,697,000. Mirae Asset Global Investments Co. Ltd. owned 0.12% of Broadridge Financial Solutions at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BR. ProShare Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 8.8% during the third quarter. ProShare Advisors LLC now owns 73,929 shares of the business services provider’s stock valued at $11,910,000 after acquiring an additional 5,966 shares during the period. Vise Technologies Inc. grew its holdings in shares of Broadridge Financial Solutions by 13.2% in the 3rd quarter. Vise Technologies Inc. now owns 7,882 shares of the business services provider’s stock worth $1,270,000 after purchasing an additional 919 shares during the last quarter. MGO One Seven LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth about $205,000. Americana Partners LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth about $249,000. Finally, State of Wyoming acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth about $309,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. The trade was a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.00% of the company’s stock.

Broadridge Financial Solutions Trading Up 3.0%

Shares of BR opened at $184.25 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 19.15 and a beta of 0.92. The stock has a fifty day moving average price of $171.67 and a two-hundred day moving average price of $166.40. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $233.10.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $3.76 by $0.06. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.55 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Broadridge Financial Solutions

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.