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

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%.

Broadridge Financial Solutions has increased its dividend by an average of 11.0% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Broadridge Financial Solutions has a payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadridge Financial Solutions to earn $9.35 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 37.6%.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $227.92 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $26.64 billion, a P/E ratio of 39.43 and a beta of 1.05. The company has a 50 day moving average price of $215.55 and a 200 day moving average price of $207.80. Broadridge Financial Solutions has a fifty-two week low of $180.16 and a fifty-two week high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. Equities research analysts forecast that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Insider Activity

In other news, President Christopher John Perry sold 162 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now owns 67,267 shares of the company’s stock, valued at $14,126,070. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,696 shares of company stock valued at $24,782,982 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.