Broadridge Financial Solutions, Inc. Declares Quarterly Dividend of $0.88 (NYSE:BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Tuesday, February 4th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.88 per share by the business services provider on Thursday, April 3rd. This represents a $3.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, March 13th.

Broadridge Financial Solutions has increased its dividend payment by an average of 11.4% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Broadridge Financial Solutions has a dividend payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadridge Financial Solutions to earn $9.31 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.8%.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $231.90 on Tuesday. The company has a market cap of $27.14 billion, a price-to-earnings ratio of 36.29 and a beta of 1.05. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $246.58. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average of $235.35 and a two-hundred day moving average of $225.50.

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 net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

BR has been the subject of several research reports. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, DA Davidson restated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,798 shares of company stock valued at $6,806,872. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

An institutional investor recently bought a new position in Broadridge Financial Solutions stock. Brighton Jones LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,565 shares of the business services provider’s stock, valued at approximately $580,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

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.