Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $241.00 Average PT from Analysts

Broadridge Financial Solutions, Inc. (NYSE:BR) has been given a consensus rating of “Hold” by the six analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $241.00.

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $225.19 on Tuesday. The stock has a fifty day simple moving average of $237.48 and a two-hundred day simple moving average of $228.66. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $247.01. 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 stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 period in the prior year, the business earned $0.92 earnings per share. On average, analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after acquiring an additional 1,186,555 shares during the period. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $106,904,000. Raymond James Financial Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $104,466,000. Corient Private Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 882.9% in the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock worth $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Broadridge Financial Solutions by 24.4% in the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider’s stock valued at $362,825,000 after buying an additional 314,323 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

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.