Ethic Inc. Boosts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Ethic Inc. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 28,368 shares of the business services provider’s stock after purchasing an additional 4,040 shares during the quarter. Ethic Inc.’s holdings in Broadridge Financial Solutions were worth $6,942,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BR. Golden State Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $29,000. Whipplewood Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after purchasing an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $34,000. Continuum Advisory LLC lifted its position in shares of 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 during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of 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 during the period. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director owned 30,892 shares of the company’s stock, valued at $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,299 shares of company stock valued at $40,196,503 over the last quarter. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BR shares. UBS Group lifted their price target 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 note on Friday, May 9th. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. 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. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $261.50.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $260.42 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $245.40 and its two-hundred day simple moving average is $239.78. Broadridge Financial Solutions, Inc. has a 1-year low of $206.95 and a 1-year high of $271.91. The company has a market capitalization of $30.50 billion, a P/E ratio of 36.73 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business earned $3.50 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. Broadridge Financial Solutions’s payout ratio is currently 49.65%.

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.