Broadridge Financial Solutions’ (BR) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note issued to investors on Tuesday morning,Benzinga reports. DA Davidson currently has a $214.00 target price on the business services provider’s stock.

A number of other research analysts also recently issued reports on BR. Morgan Stanley raised their price target on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, UBS Group reissued a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.00.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $178.01 on Tuesday. The company’s fifty day moving average price is $171.61 and its 200 day moving average price is $166.81. Broadridge Financial Solutions has a 12 month low of $133.83 and a 12 month high of $233.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $20.10 billion, a P/E ratio of 18.50 and a beta of 0.92.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.06. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. Broadridge Financial Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd were paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 2.4%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. The ex-dividend date was Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 45.32%.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the sale, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently bought and sold shares of BR. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Broadridge Financial Solutions by 58.6% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,429 shares of the business services provider’s stock valued at $2,163,000 after acquiring an additional 4,960 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Broadridge Financial Solutions by 9.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 272,671 shares of the business services provider’s stock worth $43,927,000 after acquiring an additional 23,741 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $22,697,000. ProShare Advisors LLC increased its stake in Broadridge Financial Solutions by 8.8% during the third quarter. ProShare Advisors LLC now owns 73,929 shares of the business services provider’s stock worth $11,910,000 after acquiring an additional 5,966 shares during the last quarter. Finally, Vise Technologies Inc. raised its holdings in shares of Broadridge Financial Solutions by 13.2% in the 3rd quarter. Vise Technologies Inc. now owns 7,882 shares of the business services provider’s stock worth $1,270,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.