JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Broadridge Financial Solutions (NYSE:BR) Stock

Broadridge Financial Solutions (NYSE:BR) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $231.00 to $249.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.42% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded up $0.23 on Monday, reaching $238.45. The company’s stock had a trading volume of 200,316 shares, compared to its average volume of 479,425. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $241.45. The stock has a market capitalization of $27.87 billion, a P/E ratio of 37.32 and a beta of 1.08. The stock’s 50-day moving average is $231.26 and its two-hundred day moving average is $220.33. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions will post 8.55 EPS for the current year.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’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 completion of the sale, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $2,784,000. Czech National Bank lifted its holdings in Broadridge Financial Solutions by 5.6% in the 3rd quarter. Czech National Bank now owns 23,774 shares of the business services provider’s stock worth $5,112,000 after purchasing an additional 1,254 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Broadridge Financial Solutions by 21.9% during the third quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock worth $8,184,000 after purchasing an additional 6,829 shares during the period. GAMMA Investing LLC grew its holdings in Broadridge Financial Solutions by 39.8% during the third quarter. GAMMA Investing LLC now owns 2,178 shares of the business services provider’s stock valued at $468,000 after purchasing an additional 620 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its position in shares of Broadridge Financial Solutions by 10.2% in the third quarter. Miracle Mile Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $264,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds 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.