Ethic Inc. Has $7.21 Million Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Ethic Inc. increased its stake in Broadridge Financial Solutions by 6.1%, bringing its total holdings to approximately $7.21 million as per their latest SEC filing.
• Institutional investors currently own 90.03% of Broadridge Financial Solutions stock, with notable increases in holdings from companies like ORG Partners LLC and Clal Insurance Enterprises Holdings Ltd.
• Broadridge Financial Solutions has updated its quarterly dividend to $0.975 per share, an increase from the previous $0.88, showcasing a 1.7% dividend yield.

Ethic Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,098 shares of the business services provider's stock after acquiring an additional 1,730 shares during the period. Ethic Inc.'s holdings in Broadridge Financial Solutions were worth $7,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised its holdings in shares of Broadridge Financial Solutions by 360.0% during the second quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock worth $28,000 after acquiring an additional 90 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $29,000. Continuum Advisory LLC raised its holdings in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after acquiring an additional 117 shares during the period. Finally, Olde Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $36,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of 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. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Needham & Company LLC raised 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, UBS Group raised their target price 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. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Stock Up 0.3%

Broadridge Financial Solutions stock opened at $232.97 on Thursday. The firm has a market capitalization of $27.19 billion, a PE ratio of 32.86 and a beta of 0.95. The company's 50-day moving average is $245.06 and its 200-day moving average is $242.10. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's payout ratio is presently 55.01%.

Insider Activity

In related news, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction dated 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 owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company's stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock valued at $38,417,208 in the last ninety days. 1.10% of the stock is currently owned by 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.

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