Ethic Inc. Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Ethic Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,328 shares of the business services provider’s stock after acquiring an additional 1,483 shares during the quarter. Ethic Inc.’s holdings in Broadridge Financial Solutions were worth $5,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after acquiring an additional 1,186,555 shares during the last quarter. Norges Bank acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $106,904,000. Raymond James Financial Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at approximately $104,466,000. Corient Private Wealth LLC grew its holdings in Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock valued at $99,186,000 after buying an additional 392,695 shares during the last quarter. Finally, Northern Trust Corp increased its position in Broadridge Financial Solutions by 24.4% during the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider’s stock worth $362,825,000 after buying an additional 314,323 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BR shares. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday. They issued a “buy” rating and a $300.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $250.83.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares of the company’s stock, valued at $251,685.40. The trade was a 49.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,866 shares of company stock worth $28,216,569. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Trading Up 0.4 %

NYSE BR opened at $236.92 on Friday. The company has a 50-day moving average of $233.94 and a 200-day moving average of $231.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01. The company has a market cap of $27.83 billion, a P/E ratio of 37.08 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the business posted $2.23 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

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.