Broadridge Financial Solutions (NYSE:BR) Given “Outperform” Rating at Evercore ISI

Evercore ISI restated their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a report released on Tuesday, Benzinga reports. Evercore ISI currently has a $230.00 target price on the business services provider’s stock.

A number of other brokerages have also weighed in on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a hold rating to a buy rating in a report on Tuesday, January 23rd. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an equal weight rating in a report on Friday, December 8th. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a report on Friday, February 2nd. Finally, Raymond James lifted their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $203.17.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $204.86 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions has a fifty-two week low of $139.35 and a fifty-two week high of $210.24. The stock has a market capitalization of $24.13 billion, a P/E ratio of 35.69 and a beta of 0.99. The company has a 50 day moving average price of $201.97 and a 200 day moving average price of $192.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $0.91 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be paid a $0.80 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors have recently modified their holdings of BR. American Century Companies Inc. increased its position in Broadridge Financial Solutions by 10.7% during the first quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock worth $1,270,000 after purchasing an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Broadridge Financial Solutions by 6.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after purchasing an additional 992 shares during the period. Raymond James Trust N.A. boosted its stake in Broadridge Financial Solutions by 126.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 1,888 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Broadridge Financial Solutions by 1,851.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 500 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Broadridge Financial Solutions by 13.2% during the 1st quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after acquiring an additional 1,487 shares during the last quarter. Institutional investors and hedge funds 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.