Broadridge Financial Solutions, Inc. $BR Holdings Increased by Ethic Inc.

Ethic Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 69.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,019 shares of the business services provider’s stock after acquiring an additional 12,730 shares during the quarter. Ethic Inc.’s holdings in Broadridge Financial Solutions were worth $4,997,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Broadridge Financial Solutions by 218.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after acquiring an additional 10,266 shares during the period. Western Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at $959,000. Andra AP fonden lifted its holdings in Broadridge Financial Solutions by 96.5% in the second quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock valued at $23,385,000 after acquiring an additional 83,857 shares during the period. Empowered Funds LLC lifted its holdings in Broadridge Financial Solutions by 29.9% in the first quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock valued at $7,869,000 after acquiring an additional 11,152 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth $910,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BR shares. DA Davidson reaffirmed a “buy” rating and set a $214.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Royal Bank Of Canada raised their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. 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. Finally, Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and an average target price of $212.71.

Broadridge Financial Solutions Trading Up 0.9%

Shares of BR stock opened at $192.15 on Tuesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $233.10. The stock has a market cap of $21.73 billion, a P/E ratio of 21.23 and a beta of 0.90. The business has a fifty day simple moving average of $172.30 and a 200-day simple moving average of $165.77. The company has a quick ratio of 1.24, a current ratio of 1.21 and a debt-to-equity ratio of 1.28.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.37 by $0.19. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 10.58 earnings per share for the current fiscal year.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the sale, the vice president owned 8,800 shares of the company’s stock, valued at $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by company insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions.

The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.

Broadridge was established in 2007 as a spin-off from Automatic Data Processing (ADP).