Broadridge Financial Solutions, Inc. (NYSE:BR) Receives Average Recommendation of “Hold” from Analysts

by · The Markets Daily

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Free Report) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $213.33.

A number of equities research analysts have recently commented on BR shares. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Read Our Latest Stock Report on BR

Broadridge Financial Solutions Trading Down 0.3 %

NYSE BR opened at $210.96 on Friday. Broadridge Financial Solutions has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. 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 fifty day moving average of $209.91 and a 200 day moving average of $203.19.

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

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.88 per share. 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. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is 54.61%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC acquired a new position in Broadridge Financial Solutions in the first quarter valued at approximately $144,033,000. APG Asset Management US Inc. purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at $70,498,000. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $67,605,000. Veritas Investment Partners UK Ltd. grew its holdings in shares of Broadridge Financial Solutions by 16.9% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after purchasing an additional 147,293 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Broadridge Financial Solutions by 206.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after purchasing an additional 134,911 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

About Broadridge Financial Solutions

(Get Free Report

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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