Broadridge Financial Solutions, Inc. (NYSE:BR) has been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $136.20.
Several equities research analysts recently weighed in on the company. BTIG Research restated a “buy” rating and set a $135.00 target price on shares of Broadridge Financial Solutions in a research note on Friday. Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Friday, February 28th. Finally, DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $134.00 to $138.00 in a research report on Monday, February 3rd.
Shares of Broadridge Financial Solutions stock opened at $116.81 on Monday. The business has a 50-day moving average of $103.45 and a 200 day moving average of $116.14. Broadridge Financial Solutions has a 12 month low of $81.90 and a 12 month high of $136.99. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 32.90 and a beta of 0.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.90.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Broadridge Financial Solutions had a net margin of 9.50% and a return on equity of 46.99%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. Equities research analysts anticipate that Broadridge Financial Solutions will post 4.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a $0.54 dividend. The ex-dividend date is Thursday, June 11th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.35%.
In other news, Director Robert N. Duelks sold 7,658 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $101.00, for a total transaction of $773,458.00. Following the sale, the director now directly owns 33,196 shares in the company, valued at approximately $3,352,796. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie A. Brun sold 4,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $105.92, for a total value of $476,640.00. Following the sale, the director now owns 46,360 shares in the company, valued at $4,910,451.20. The disclosure for this sale can be found here. Insiders sold 13,247 shares of company stock valued at $1,355,851 in the last three months. 2.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. National Asset Management Inc. increased its position in shares of Broadridge Financial Solutions by 80.6% during the 1st quarter. National Asset Management Inc. now owns 12,107 shares of the business services provider’s stock valued at $1,149,000 after purchasing an additional 5,405 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Broadridge Financial Solutions by 12.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,029 shares of the business services provider’s stock worth $288,000 after acquiring an additional 341 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Broadridge Financial Solutions by 34.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 5,971 shares of the business services provider’s stock worth $566,000 after buying an additional 1,518 shares during the period. AGF Investments Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $249,000. Finally, Commerce Bank boosted its position in shares of Broadridge Financial Solutions by 8.1% in the first quarter. Commerce Bank now owns 68,619 shares of the business services provider’s stock worth $6,507,000 after buying an additional 5,151 shares during the period. Hedge funds and other institutional investors own 86.01% 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 worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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