Broadridge Financial Solutions, Inc. (BR) To Go Ex-Dividend on June 12th

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Tuesday, May 13th, RTT News reports. Investors of record on Thursday, June 12th will be paid a dividend of 0.88 per share by the business services provider on Wednesday, July 2nd. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th.

Broadridge Financial Solutions has increased its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 18 consecutive years. Broadridge Financial Solutions has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $9.31 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.8%.

Broadridge Financial Solutions Stock Up 0.2%

Broadridge Financial Solutions stock opened at $237.68 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions has a one year low of $192.68 and a one year high of $247.01. The company has a 50-day simple moving average of $233.76 and a 200-day simple moving average of $232.23. The firm has a market capitalization of $27.92 billion, a P/E ratio of 37.20 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $2.23 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock valued at $29,072,366 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

An institutional investor recently bought a new position in Broadridge Financial Solutions stock. Brighton Jones LLC acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,565 shares of the business services provider’s stock, valued at approximately $580,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $250.83.

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.