Ethic Inc. Buys 4,040 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Ethic Inc. increased its position in Broadridge Financial Solutions by 16.6%, owning a total of 28,368 shares worth approximately $6.94 million.
• CEO Timothy C. Gokey sold 84,571 shares of the company for over $21.9 million, marking a 33.80% reduction in his holdings.
• Broadridge Financial Solutions recently declared a quarterly dividend of $0.975 per share, up from the previous $0.88, reflecting a 1.5% dividend yield.

Ethic Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,368 shares of the business services provider's stock after buying an additional 4,040 shares during the period. Ethic Inc.'s holdings in Broadridge Financial Solutions were worth $6,942,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Broadridge Financial Solutions by 2.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock valued at $409,662,000 after purchasing an additional 39,846 shares during the last quarter. Stifel Financial Corp boosted its position in Broadridge Financial Solutions by 1.3% during the fourth quarter. Stifel Financial Corp now owns 1,615,131 shares of the business services provider's stock valued at $365,177,000 after purchasing an additional 20,716 shares during the last quarter. Finally, Northern Trust Corp boosted 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 valued at $362,825,000 after purchasing an additional 314,323 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BR has been the subject of several recent research reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley increased their price target on 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. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC raised their price objective on 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, UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $0.4060 during mid-day trading on Wednesday, reaching $263.3260. The company's stock had a trading volume of 328,484 shares, compared to its average volume of 587,308. Broadridge Financial Solutions, Inc. has a 1-year low of $206.95 and a 1-year high of $271.91. The stock has a market cap of $30.84 billion, a P/E ratio of 37.14 and a beta of 0.94. The business has a 50-day simple moving average of $246.12 and a two-hundred day simple moving average of $240.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The business's revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is 49.65%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the 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 transaction, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the transaction, the chief executive officer owned 165,634 shares in the company, valued at approximately $42,986,992.02. This trade represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,470 shares of company stock worth $39,026,774 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

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.