Broadridge Financial Solutions (NYSE:BR) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a research report sent to investors on Saturday.

BR has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Evercore ISI reissued an outperform rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reaffirmed a neutral rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Raymond James increased their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an outperform rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of Moderate Buy and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Up 0.9 %

Shares of BR stock opened at $200.68 on Friday. The stock’s fifty day moving average price is $200.26 and its 200 day moving average price is $195.46. Broadridge Financial Solutions has a 1-year low of $144.54 and a 1-year high of $210.24. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 34.96 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,761 shares of company stock valued at $5,223,959. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Broadridge Financial Solutions by 32.4% in the first quarter. Empowered Funds LLC now owns 1,922 shares of the business services provider’s stock worth $394,000 after buying an additional 470 shares in the last quarter. Quantbot Technologies LP purchased a new position in Broadridge Financial Solutions in the 1st quarter worth approximately $641,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Broadridge Financial Solutions by 39.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 28,144 shares of the business services provider’s stock worth $5,766,000 after purchasing an additional 8,001 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.6% during the 1st quarter. Empirical Finance LLC now owns 4,130 shares of the business services provider’s stock worth $846,000 after purchasing an additional 144 shares during the last quarter. Finally, MGB Wealth Management LLC increased its holdings in shares of Broadridge Financial Solutions by 10.2% in the first quarter. MGB Wealth Management LLC now owns 3,455 shares of the business services provider’s stock valued at $708,000 after purchasing an additional 320 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Company Profile

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.