Broadridge Financial Solutions Inc. (BR) Hits New 1-Year High at $70.15
Broadridge Financial Solutions Inc. (NYSE:BR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.15 and last traded at $70.15, with a volume of 530,119 shares traded. The stock had previously closed at $69.30.
A number of research analysts have recently weighed in on BR shares. Barclays PLC lifted their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Zacks Investment Research downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Raymond James Financial Inc. downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 7th. They noted that the move was a valuation call. Finally, Avondale Partners downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price target on the stock. in a report on Wednesday, June 15th.
The stock has a market cap of $8.30 billion and a PE ratio of 27.73. The company’s 50-day moving average price is $68.05 and its 200 day moving average price is $62.57.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.45. During the same quarter in the previous year, the business posted $1.40 earnings per share. The firm earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions Inc. will post $3.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be given a $0.33 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.88%.
In other Broadridge Financial Solutions news, insider Robert F. Kalenka sold 53,818 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $68.96, for a total value of $3,711,289.28. Following the transaction, the insider now directly owns 52,447 shares in the company, valued at approximately $3,616,745.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schifellite sold 9,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $69.30, for a total value of $623,700.00. Following the completion of the transaction, the insider now owns 82,937 shares in the company, valued at $5,747,534.10. The disclosure for this sale can be found here.
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.
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