Analysts Set Broadridge Financial Solutions, Inc. (NYSE:BR) Price Target at $206.67

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $206.67.

BR has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Raymond James boosted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. DA Davidson reiterated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, Evercore ISI reiterated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $192.98 on Tuesday. The company has a market cap of $22.73 billion, a PE ratio of 33.62 and a beta of 0.99. Broadridge Financial Solutions has a 12 month low of $139.52 and a 12 month high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50-day simple moving average of $200.84 and a 200-day simple moving average of $193.89.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.66%. Broadridge Financial Solutions’s payout ratio is 55.75%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the transaction, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders sold a total of 48,483 shares of company stock worth $9,745,637 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Michigan Retirement System grew its position in Broadridge Financial Solutions by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 32,260 shares of the business services provider’s stock valued at $6,609,000 after buying an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Broadridge Financial Solutions by 14.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the business services provider’s stock valued at $1,520,000 after buying an additional 926 shares in the last quarter. Oak Thistle LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at about $216,000. Park Place Capital Corp grew its position in Broadridge Financial Solutions by 182.1% in the 1st quarter. Park Place Capital Corp now owns 1,405 shares of the business services provider’s stock valued at $288,000 after buying an additional 907 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at about $848,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company 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.