Broadridge Financial Solutions, Inc. $BR Stock Holdings Raised by Ethic Inc.

Key Points

• Ethic Inc. increased its Broadridge stake by 69.6% in the third quarter, adding 12,730 shares to reach 31,019 shares valued at about $5.0 million.
• Broadridge reported quarterly earnings of $1.56 per share, beating the $1.37 consensus estimate; revenue of $1.67 billion also exceeded expectations and rose 5% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $212.71. Institutional investors collectively owned 90.03% of the company’s stock.

Ethic Inc. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 69.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,019 shares of the business services provider's stock after purchasing 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Broadridge Financial Solutions in the 2nd quarter valued at $1,473,918,000. Jupiter Topco LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $261,852,000. Van ECK Associates Corp lifted its stake in shares of Broadridge Financial Solutions by 11.3% in the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock worth $256,875,000 after buying an additional 190,301 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $197,921,000. Finally, Amundi boosted its position in Broadridge Financial Solutions by 67.5% during the first quarter. Amundi now owns 1,059,021 shares of the business services provider's stock worth $172,070,000 after acquiring an additional 426,587 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BR shares. Royal Bank Of Canada upped their price target on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an "equal weight" rating in a report on Wednesday, November 4th. Weiss Ratings raised Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, UBS Group reiterated a "neutral" rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.71.

Broadridge Financial Solutions Stock Up 0.9%

NYSE:BR opened at $192.15 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $233.10. The stock's fifty day moving average is $172.30 and its two-hundred day moving average is $165.77. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 21.23 and a beta of 0.90. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.19. The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The company's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current year.

Insiders Place Their Bets

In other Broadridge Financial Solutions 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate 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).

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