Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $222.43 Average Price Target from Brokerages

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $222.43.

A number of analysts recently commented on BR shares. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price 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.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of Broadridge Financial Solutions stock opened at $236.02 on Wednesday. The company has a market capitalization of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05. The stock has a fifty day simple moving average of $220.06 and a 200 day simple moving average of $210.54. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $237.74. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. On average, sell-side analysts anticipate that Broadridge Financial Solutions will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 25.87 % 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, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock valued at $16,944,095 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in shares of Broadridge Financial Solutions by 157.0% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 168 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Broadridge Financial Solutions by 44.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider’s stock valued at $979,000 after purchasing an additional 1,469 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Broadridge Financial Solutions by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 196,655 shares of the business services provider’s stock worth $40,287,000 after buying an additional 2,698 shares during the period. Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions by 99.6% in the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after buying an additional 8,837 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Broadridge Financial Solutions by 5.0% during the first quarter. Comerica Bank now owns 45,797 shares of the business services provider’s stock valued at $9,382,000 after buying an additional 2,182 shares during the period. 90.03% of the stock is owned by hedge funds and other 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.