Broadridge Financial Solutions (NYSE:BR) Sets New 1-Year High at $211.79

Broadridge Financial Solutions, Inc. (NYSE:BR) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $211.79 and last traded at $211.71, with a volume of 141467 shares changing hands. The stock had previously closed at $203.15.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a report on Friday, June 28th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Stock Up 2.2 %

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $25.13 billion, a P/E ratio of 36.30 and a beta of 1.04. The business has a 50-day moving average price of $200.77 and a 200 day moving average price of $200.60.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Several institutional investors and hedge funds have recently made changes to their positions in BR. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth $32,000. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at $32,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $34,000. Manchester Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at $34,000. 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.