Broadridge Financial Solutions (NYSE:BR) Rating Increased 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 note released on Friday.

A number of other brokerages have also recently issued reports on BR. DA Davidson restated a neutral rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Evercore ISI reaffirmed an outperform rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Finally, Raymond James raised their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $206.67.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $195.67 on Friday. The business’s 50-day simple moving average is $201.16 and its 200 day simple moving average is $193.79. The stock has a market cap of $23.04 billion, a price-to-earnings ratio of 34.09 and a beta of 0.99. Broadridge Financial Solutions has a 12-month low of $139.52 and a 12-month high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77.

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

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale 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 business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The transaction 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 stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $25,000. Money Concepts Capital Corp boosted its stake in shares of Broadridge Financial Solutions by 400.0% during the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock worth $26,000 after acquiring an additional 156 shares during the period. Resurgent Financial Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $27,000. Headinvest LLC bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $32,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $34,000. 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.