Broadridge Financial Solutions (NYSE:BR) Hits New 12-Month High - Time to Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $242.70 and last traded at $241.98, with a volume of 43524 shares changing hands. The stock had previously closed at $240.42.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BR shares. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 0.1 %

The firm has a market cap of $28.40 billion, a PE ratio of 37.98 and a beta of 1.08. The company has a 50-day simple moving average of $232.39 and a 200 day simple moving average of $222.32. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other 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 directly owns 12,146 shares of the company's stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 514 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock valued at $5,050,766. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its holdings in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 154,416 shares of the business services provider's stock valued at $34,906,000 after purchasing an additional 5,222 shares during the period. Dean Investment Associates LLC lifted its holdings in Broadridge Financial Solutions by 4.5% in the fourth quarter. Dean Investment Associates LLC now owns 12,334 shares of the business services provider's stock valued at $2,789,000 after acquiring an additional 535 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Broadridge Financial Solutions by 3.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 123,001 shares of the business services provider's stock worth $27,809,000 after acquiring an additional 4,102 shares during the period. Marshall Wace LLP purchased a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $20,130,000. Finally, Zacks Investment Management acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth $30,252,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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.