Brokerages Set Broadridge Financial Solutions, Inc. (NYSE:BR) PT at $239.17

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) has been assigned an average recommendation of "Hold" from the seven ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $239.17.

BR has been the subject of several recent research reports. DA Davidson reiterated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd.

Broadridge Financial Solutions Stock Up 1.5 %

NYSE:BR traded up $3.46 during trading hours on Friday, hitting $241.30. The company's stock had a trading volume of 632,797 shares, compared to its average volume of 467,842. The stock has a market capitalization of $28.24 billion, a P/E ratio of 37.76 and a beta of 1.05. The stock has a fifty day moving average of $235.05 and a 200-day moving average of $225.07. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $246.58.

Remove Ads

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the firm earned $0.92 EPS. On average, equities analysts forecast that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,441 shares of company stock worth $1,547,835. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after buying an additional 142 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $34,000. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $36,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

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.