Broadridge Financial Solutions (NYSE:BR) Sets New 1-Year High - Here's What Happened

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $237.96 and last traded at $237.74, with a volume of 27289 shares changing hands. The stock had previously closed at $235.91.

Wall Street Analyst Weigh In

BR has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an "outperform" rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. UBS Group initiated coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a "neutral" rating and a $250.00 target price on the stock. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Finally, StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $222.43.

Broadridge Financial Solutions Price Performance

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 stock has a 50 day simple moving average of $222.41 and a two-hundred day simple moving average of $211.66. The company has a market cap of $27.52 billion, a price-to-earnings ratio of 40.73 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping 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 business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 60.90%.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company's stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,066 shares of company stock valued at $16,006,777. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock worth $1,118,644,000 after buying an additional 51,439 shares in the last quarter. Geode Capital Management LLC increased its holdings in Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp grew its position in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock worth $342,856,000 after buying an additional 5,813 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Broadridge Financial Solutions by 0.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider's stock valued at $218,447,000 after purchasing an additional 6,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock worth $185,417,000 after purchasing an additional 72,018 shares in the last quarter. 90.03% of the stock is currently 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.