Ethic Inc. Has $7.21 Million Stake in Broadridge Financial Solutions, Inc. $BR

Ethic Inc. boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,098 shares of the business services provider’s stock after purchasing an additional 1,730 shares during the quarter. Ethic Inc.’s holdings in Broadridge Financial Solutions were worth $7,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BR. ORG Partners LLC raised its stake in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $29,000. Continuum Advisory LLC raised its stake in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $36,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock worth $38,417,208 over the last three months. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $232.97 on Thursday. The company has a 50 day simple moving average of $245.06 and a 200 day simple moving average of $242.10. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 32.86 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a dividend of $0.975 per share. The ex-dividend date was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is currently 55.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $261.50.

Broadridge Financial Solutions 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.