Broadridge Financial Solutions, Inc. (BR) Sets New 1-Year High at $80.18
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) reached a new 52-week high during trading on Tuesday . The company traded as high as $80.18 and last traded at $80.23, with a volume of 213,916 shares. The stock had previously closed at $80.16.
BR has been the topic of a number of research analyst reports. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Barclays PLC lifted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, DA Davidson began coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $74.00.
The stock has a 50-day moving average price of $76.66 and a 200 day moving average price of $73.00. The firm has a market capitalization of $9.27 billion, a P/E ratio of 29.46 and a beta of 0.97.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting the Thomson Reuters’ 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%. Broadridge Financial Solutions’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.365 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 annualized dividend and a yield of 1.84%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.35%.
In other Broadridge Financial Solutions news, insider Adam D. Amsterdam sold 17,813 shares of the firm’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 owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stuart R. Levine sold 7,868 shares of the firm’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 directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in BR. Intl Fcstone Inc. bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $1,889,000. Toronto Dominion Bank boosted its position in shares of 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 in the last quarter. Advisory Services Network LLC boosted its position in shares of 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $691,000. Finally, WINTON GROUP Ltd bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $1,030,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.
About Broadridge Financial Solutions
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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