Broadridge Financial Solutions, Inc. (NYSE:BR) Given Average Recommendation of “Hold” by Brokerages

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $213.33.

Several brokerages have recently issued reports on BR. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Insider Buying and Selling

In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. LifeSteps Financial Inc. acquired a new position in Broadridge Financial Solutions during the first quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Manchester Capital Management LLC raised its position in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth $34,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Broadridge Financial Solutions stock opened at $210.96 on Friday. The company has a market capitalization of $24.62 billion, a PE ratio of 36.00 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The firm has a 50 day moving average price of $209.91 and a 200 day moving average price of $203.19.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Research analysts expect that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 54.61%.

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.