Broadridge Financial Solutions, Inc. (NYSE:BR) Receives Average Recommendation of “Hold” from Analysts

Broadridge Financial Solutions, Inc. (NYSE:BR) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $250.83.

Several brokerages recently weighed in on BR. Morgan Stanley increased their price objective 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. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,302 shares of company stock valued at $30,242,095 in the last three months. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. Park Place Capital Corp lifted its position in shares of Broadridge Financial Solutions by 31.3% during the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 1,391 shares during the last quarter. Crown Oak Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 10.8% during the fourth quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock worth $8,224,000 after purchasing an additional 3,553 shares in the last quarter. Tributary Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 43.4% during the fourth quarter. Tributary Capital Management LLC now owns 5,003 shares of the business services provider’s stock worth $1,131,000 after purchasing an additional 1,513 shares in the last quarter. Finally, Northstar Asset Management Inc. purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at $2,750,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.2%

Shares of Broadridge Financial Solutions stock opened at $242.33 on Wednesday. The stock has a market cap of $28.46 billion, a P/E ratio of 37.92 and a beta of 0.98. The stock’s 50 day simple moving average is $234.92 and its 200-day simple moving average is $233.19. Broadridge Financial Solutions has a 1-year low of $192.68 and a 1-year high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

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 business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 EPS. Analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

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.