Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $249.00

Broadridge Financial Solutions (NYSE:BR - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $231.00 to $249.00 in a research report report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider's stock.

BR has been the topic of several other research reports. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson restated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday. Finally, UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $239.17.

Broadridge Financial Solutions Trading Down 0.1 %

Shares of Broadridge Financial Solutions stock traded down $0.23 on Monday, hitting $239.87. 489,977 shares of the company traded hands, compared to its average volume of 493,966. Broadridge Financial Solutions has a 52 week low of $188.30 and a 52 week high of $242.39. The company has a market cap of $28.04 billion, a PE ratio of 37.54 and a beta of 1.08. The stock's 50 day moving average price is $231.63 and its 200-day moving average price is $221.10. 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 released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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. Equities research analysts predict that Broadridge Financial Solutions will post 8.55 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions's payout ratio is 55.09%.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 10,757 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,303 shares of company stock valued at $8,371,507 in the last 90 days. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. grew its position in Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider's stock valued at $1,279,000 after buying an additional 45 shares during the last quarter. Adero Partners LLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock worth $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC raised its holdings in Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock worth $229,000 after purchasing an additional 46 shares in the last quarter. Avestar Capital LLC lifted its position in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider's stock valued at $268,000 after purchasing an additional 48 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 90.03% 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.