Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $226.71 Consensus Target Price from Analysts

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $226.71.

A number of equities analysts have recently weighed in on BR shares. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of Broadridge Financial Solutions stock opened at $226.37 on Friday. The company has a market capitalization of $26.46 billion, a P/E ratio of 39.16 and a beta of 1.07. The stock has a fifty day simple moving average of $226.01 and a 200 day simple moving average of $214.77. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $237.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadridge Financial Solutions will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Broadridge Financial Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in shares of Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares in the last quarter. Avestar Capital LLC raised its stake in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Broadridge Financial Solutions by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC lifted its position in Broadridge Financial Solutions by 0.3% during the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in Broadridge Financial Solutions by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after buying an additional 52 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

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.