Broadridge Financial Solutions (NYSE:BR) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Several other research firms have also recently weighed in on BR. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a neutral rating in a report on Tuesday, August 20th. DA Davidson reaffirmed a neutral rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $213.33.

Broadridge Financial Solutions Stock Up 0.4 %

BR stock opened at $212.86 on Wednesday. The business has a 50 day moving average of $207.35 and a 200 day moving average of $202.17. The firm has a market cap of $25.16 billion, a PE ratio of 36.32 and a beta of 1.04. Broadridge Financial Solutions has a twelve month low of $166.73 and a twelve month high of $223.81. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. On average, research analysts forecast that Broadridge Financial Solutions will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.65%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Christopher John Perry sold 162 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. Insiders have sold a total of 98,387 shares of company stock worth $20,503,110 in the last ninety days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BR. LifeSteps Financial Inc. purchased a new position in Broadridge Financial Solutions during the 1st quarter worth $32,000. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new position in Broadridge Financial Solutions in the second quarter valued at $32,000. Manchester Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new position in Broadridge Financial Solutions during the first quarter valued at approximately $34,000. 90.03% of the stock is owned by institutional investors and hedge funds.

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.