JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Broadridge Financial Solutions (NYSE:BR) Stock

Broadridge Financial Solutions (NYSE:BR) had its target price increased by JPMorgan Chase & Co. from $231.00 to $249.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also weighed in on the stock. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $238.72 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $241.45. The firm has a fifty day moving average of $231.37 and a 200-day moving average of $220.56. The firm has a market capitalization of $27.90 billion, a price-to-earnings ratio of 37.36 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company earned $0.92 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions will post 8.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a dividend of $0.88 per share. The ex-dividend date was Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by insiders.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors have recently modified their holdings of the stock. Qsemble Capital Management LP acquired a new position in Broadridge Financial Solutions during the third quarter valued at approximately $1,412,000. Atria Investments Inc raised its holdings in shares of Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after buying an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth $483,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after buying an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 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.