Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $259.83 Average Target Price from Brokerages

Broadridge Financial Solutions, Inc. (NYSE:BR) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $259.8333.

BR has been the subject of a number of analyst reports. DA Davidson reiterated a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. UBS Group dropped their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Morgan Stanley dropped their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th.

Broadridge Financial Solutions Stock Down 1.1%

Shares of NYSE BR opened at $225.02 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions has a 52 week low of $212.33 and a 52 week high of $271.91. The firm’s fifty day moving average is $228.17 and its 200 day moving average is $240.16. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 28.81 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. On average, equities research analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is currently 49.94%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the transaction, the president owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. This represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 10,214 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total value of $2,341,661.64. Following the completion of the transaction, the vice president owned 6,026 shares of the company’s stock, valued at approximately $1,381,520.76. The trade was a 62.89% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BR. Brighton Jones LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter worth about $580,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Broadridge Financial Solutions by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 694,631 shares of the business services provider’s stock valued at $168,420,000 after purchasing an additional 9,842 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Broadridge Financial Solutions by 14.5% during the first quarter. Chicago Partners Investment Group LLC now owns 1,305 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 165 shares during the period. Deutsche Bank AG boosted its holdings in Broadridge Financial Solutions by 4.1% in the first quarter. Deutsche Bank AG now owns 485,510 shares of the business services provider’s stock worth $117,717,000 after purchasing an additional 19,222 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC bought a new stake in Broadridge Financial Solutions in the 1st quarter worth approximately $342,000. Hedge funds and other 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.