Broadridge Financial Solutions (NYSE:BR) Hits New 1-Year High – Here’s Why

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $228.43 and last traded at $228.34, with a volume of 82702 shares changing hands. The stock had previously closed at $226.21.

Analyst Ratings Changes

A number of brokerages have issued reports on BR. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Trading Down 0.5 %

The company has a fifty day simple moving average of $215.21 and a two-hundred day simple moving average of $207.66. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $26.64 billion, a PE ratio of 39.62 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value 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 $41,963,149.25. The trade was a 11.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,996 shares of company stock worth $30,073,732. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after acquiring an additional 39,537 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadridge Financial Solutions by 0.7% in the 1st 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 purchasing an additional 28,180 shares during the last quarter. Capital International Investors grew its stake in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after buying an additional 7,970 shares during the period. Bahl & Gaynor Inc. increased its holdings in shares of 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 worth $218,447,000 after buying an additional 6,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 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.