Broadridge Financial Solutions (NYSE:BR) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a report published on Monday,Benzinga reports. They currently have a $259.00 target price on the business services provider’s stock.

A number of other brokerages also recently commented on BR. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $242.69 on Monday. Broadridge Financial Solutions has a 1-year low of $192.68 and a 1-year high of $247.01. The business has a 50-day moving average of $234.58 and a 200-day moving average of $233.13. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 37.98 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 52.93%.

Insiders Place Their Bets

In other news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This represents a 8.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the sale, the vice president now owns 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,473 shares of company stock valued at $29,072,366 in the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Large investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at approximately $29,000. Whipplewood Advisors LLC increased its position in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the period. Continuum Advisory LLC increased its position in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 46 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 117 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $36,000. 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.