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

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th.

Broadridge Financial Solutions has raised its dividend payment by an average of 11.0% annually over the last three years and has increased its dividend every year for the last 18 years. Broadridge Financial Solutions has a payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $9.34 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 37.7%.

Broadridge Financial Solutions Trading Up 1.0 %

Shares of NYSE:BR opened at $235.90 on Wednesday. The business’s 50 day simple moving average is $223.21 and its 200 day simple moving average is $212.19. Broadridge Financial Solutions has a 1 year low of $188.30 and a 1 year high of $237.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $27.57 billion, a P/E ratio of 40.81 and a beta of 1.07.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BR shares. DA Davidson raised their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley lifted their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $226.71.

Insider Buying and Selling at Broadridge Financial Solutions

In related 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 owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,532 shares of company stock valued at $12,264,846. Corporate 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.