Broadridge Financial Solutions (NYSE:BR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other research firms also recently weighed in on BR. DA Davidson restated a neutral rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note 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 note on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $213.33.

Broadridge Financial Solutions Trading Up 0.7 %

Shares of Broadridge Financial Solutions stock opened at $211.95 on Tuesday. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 12-month low of $166.73 and a 12-month high of $223.81. The firm’s 50-day moving average price is $209.72 and its two-hundred day moving average price is $203.10.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently announced 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. 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. This represents a $3.52 annualized dividend and a yield of 1.66%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after acquiring an additional 39,537 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Broadridge Financial Solutions by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after acquiring an additional 28,180 shares in the last quarter. Capital International Investors increased its stake in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after acquiring an additional 7,970 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 3.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after acquiring an additional 43,958 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of Broadridge Financial Solutions by 0.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after acquiring an additional 6,634 shares in the last quarter. 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.