Broadridge Financial Solutions (NYSE:BR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $215.23 and traded as high as $227.13. Broadridge Financial Solutions shares last traded at $226.09, with a volume of 316,102 shares changing hands.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent research reports. DA Davidson boosted their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley raised 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Price Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $26.51 billion, a P/E ratio of 39.24 and a beta of 1.07. The firm’s fifty day moving average is $226.52 and its two-hundred day moving average is $215.53.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC increased its position in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth $32,000. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at $38,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth about $39,000. 90.03% of the stock is owned by hedge funds and other 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.