Broadridge Financial Solutions (NYSE:BR) Sets New 12-Month High – Should You Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price hit a new 52-week high on Monday . The company traded as high as $238.95 and last traded at $238.79, with a volume of 16226 shares. The stock had previously closed at $237.35.

Wall Street Analyst Weigh In

Several analysts have issued reports on BR shares. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Stock Down 0.7 %

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 firm has a 50 day simple moving average of $230.66 and a two-hundred day simple moving average of $219.71. The stock has a market cap of $27.81 billion, a P/E ratio of 41.16 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 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 the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling

In other news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently bought and sold shares of BR. Savant Capital LLC raised its holdings in shares of Broadridge Financial Solutions by 7.8% during the fourth quarter. Savant Capital LLC now owns 3,555 shares of the business services provider’s stock worth $804,000 after acquiring an additional 257 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Broadridge Financial Solutions by 9.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,837 shares of the business services provider’s stock worth $6,746,000 after purchasing an additional 2,535 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $1,036,000. Empowered Funds LLC grew its stake in shares of Broadridge Financial Solutions by 13.3% in the 4th quarter. Empowered Funds LLC now owns 2,797 shares of the business services provider’s stock valued at $632,000 after buying an additional 329 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Broadridge Financial Solutions by 8.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,991 shares of the business services provider’s stock worth $1,807,000 after buying an additional 602 shares during the last quarter. Hedge funds and other 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.