Broadridge Financial Solutions, Inc. to Issue Quarterly Dividend of $0.88 (NYSE:BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Thursday, March 13th will be paid a dividend of 0.88 per share by the business services provider on Thursday, April 3rd. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%.

Broadridge Financial Solutions has increased its dividend by an average of 11.4% per year over the last three years and has raised its dividend annually for the last 17 consecutive years. Broadridge Financial Solutions has a payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $9.35 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.6%.

Broadridge Financial Solutions Stock Up 1.4 %

Broadridge Financial Solutions stock opened at $242.01 on Wednesday. The firm’s 50 day moving average price is $231.46 and its two-hundred day moving average price is $220.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $242.03. The firm has a market cap of $28.29 billion, a PE ratio of 37.76 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.92 earnings per share. On average, research analysts predict that Broadridge Financial Solutions will post 8.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BR. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

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.