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

Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $224.12 and last traded at $223.33, with a volume of 87171 shares trading hands. The stock had previously closed at $221.51.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BR. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $213.33.

Broadridge Financial Solutions Trading Up 0.1 %

The company has a market capitalization of $26.22 billion, a P/E ratio of 37.80 and a beta of 1.05. The company’s fifty day simple moving average is $212.28 and its 200-day simple moving average is $204.71. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The business 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 42.77% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.59%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions 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 sale, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BR. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 0.3% in 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 purchasing an additional 39,537 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadridge Financial Solutions by 0.7% in the first 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 buying an additional 28,180 shares in the last quarter. Capital International Investors increased its position in shares of Broadridge Financial Solutions by 0.3% in the first 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after buying an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position 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 valued at $218,447,000 after buying an additional 6,634 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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.