Broadridge Financial Solutions (NYSE:BR) Hits New 1-Year High – Should You Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $247.01 and last traded at $246.68, with a volume of 532880 shares. The stock had previously closed at $244.72.

Analyst Upgrades and Downgrades

A number of research firms have commented on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley raised 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 report on Monday, February 3rd. Finally, Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions Stock Performance

The company has a fifty day moving average price of $237.48 and a two-hundred day moving average price of $228.53. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in BR. Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after buying an additional 3,753 shares during the period. Miracle Mile Advisors LLC raised its position in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Broadridge Financial Solutions by 121.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 6,336 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Broadridge Financial Solutions by 31.3% in 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 in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Broadridge Financial Solutions by 6.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock valued at $7,633,000 after purchasing an additional 2,279 shares during the period. Institutional investors 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.