Broadridge Financial Solutions (NYSE:BR) Reaches New 1-Year High – Here’s Why

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $244.58 and last traded at $244.03, with a volume of 38465 shares. The stock had previously closed at $241.22.

Analysts Set New Price Targets

BR has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 2.1 %

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company’s fifty day moving average is $233.85 and its 200-day moving average is $224.37. The firm has a market capitalization of $28.82 billion, a P/E ratio of 38.54 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.43%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Laura Matlin sold 514 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,151 shares of company stock valued at $5,166,162. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

A number of large investors have recently bought and sold shares of the stock. Adero Partners LLC raised its stake in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 45 shares during the last quarter. Sunburst Financial Group LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after buying an additional 46 shares during the last quarter. Nicolet Advisory Services LLC lifted its position in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after purchasing an additional 46 shares in the last quarter. Avestar Capital LLC lifted its holdings in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after buying an additional 48 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 3.5% in the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock valued at $326,000 after acquiring an additional 49 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

About Broadridge Financial Solutions

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.