Broadridge Financial Solutions, Inc. (NYSE:BR) Receives Consensus Rating of “Hold” from Brokerages

Broadridge Financial Solutions, Inc. (NYSE:BR) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $213.33.

BR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th.

Broadridge Financial Solutions Stock Up 0.3 %

Broadridge Financial Solutions stock opened at $221.51 on Tuesday. The firm has a 50 day simple moving average of $212.28 and a 200 day simple moving average of $204.71. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 1-year low of $166.73 and a 1-year high of $223.81. The firm has a market capitalization of $26.18 billion, a price-to-earnings ratio of 37.80 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 earnings per share. On average, analysts predict that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after buying an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Broadridge Financial Solutions by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after acquiring an additional 28,180 shares during the period. Capital International Investors boosted its holdings in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after purchasing an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Broadridge Financial Solutions by 3.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after purchasing an additional 43,958 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in Broadridge Financial Solutions by 0.6% during 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 period. 90.03% of the stock is 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.