Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Has Average Target Price of $216.00

Broadridge Financial Solutions, Inc. (NYSE:BR) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $216.00.

Several analysts have weighed in on BR shares. Royal Bank Of Canada boosted their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. UBS Group restated a “neutral” rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. DA Davidson reaffirmed a “buy” rating and issued a $214.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday. Morgan Stanley lifted their price objective on shares of 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. Finally, Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $178.65 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $20.17 billion, a PE ratio of 18.57 and a beta of 0.92. The business has a 50-day simple moving average of $171.63 and a two-hundred day simple moving average of $166.59. Broadridge Financial Solutions has a fifty-two week low of $133.83 and a fifty-two week high of $233.10.

Broadridge Financial Solutions (NYSE:BR) last posted 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. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities analysts expect that Broadridge Financial Solutions will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s payout ratio is currently 45.32%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction dated 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 owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. The trade was a 22.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BR. BlackRock Inc. purchased a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $1,473,918,000. Jupiter Topco LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth $261,852,000. Van ECK Associates Corp boosted its stake in Broadridge Financial Solutions by 11.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock worth $256,875,000 after purchasing an additional 190,301 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $197,921,000. Finally, Amundi grew its holdings in shares of Broadridge Financial Solutions by 67.5% during the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after buying an additional 426,587 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

About Broadridge Financial Solutions

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.