Broadridge Financial Solutions, Inc. (BR) Sets New 52-Week High at $78.59
Broadridge Financial Solutions, Inc. (NYSE:BR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $78.59 and last traded at $78.55, with a volume of 345,089 shares trading hands. The stock had previously closed at $78.30.
A number of research analysts have recently issued reports on BR shares. BidaskClub raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Barclays PLC raised their price objective on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson started coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $76.00.
The firm has a market cap of $9.21 billion, a P/E ratio of 29.29 and a beta of 0.97. The stock has a 50 day moving average of $76.29 and a 200-day moving average of $72.74.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business’s revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Equities analysts predict that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.85%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 48.35%.
In related news, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the transaction, the insider now directly owns 20,646 shares in the company, valued at approximately $1,588,916.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the transaction, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Intl Fcstone Inc. bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $1,889,000. Toronto Dominion Bank grew its holdings in Broadridge Financial Solutions by 11.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares during the last quarter. Advisory Services Network LLC grew its holdings in Broadridge Financial Solutions by 82.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $691,000. Finally, WINTON GROUP Ltd bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $1,030,000. Institutional investors own 84.27% of the company’s stock.
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Broadridge Financial Solutions Company Profile
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’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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