Broadridge Financial Solutions, Inc. (NYSE:BR) Given Average Rating of “Hold” by Brokerages

Broadridge Financial Solutions, Inc. (NYSE:BR) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $206.67.

Several equities research analysts have weighed in on the stock. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research note on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th.

Broadridge Financial Solutions Trading Down 1.1 %

Shares of Broadridge Financial Solutions stock opened at $197.00 on Friday. The stock has a market capitalization of $23.28 billion, a P/E ratio of 33.62 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a 50-day simple moving average of $198.10 and a 200 day simple moving average of $199.96. Broadridge Financial Solutions has a 12-month low of $161.33 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 EPS. Research analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors have recently modified their holdings of BR. Confluence Investment Management LLC bought a new stake in Broadridge Financial Solutions during the first quarter worth about $144,033,000. APG Asset Management US Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $70,498,000. Norges Bank acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. raised its stake in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares in the last quarter. 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.