Broadridge Financial Solutions (NYSE:BR) had its price objective raised by Barclays from $96.00 to $100.00 in a research note issued to investors on Friday. The firm currently has an equal weight rating on the business services provider’s stock.
Other equities analysts have also recently issued reports about the company. DA Davidson restated a hold rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a report on Thursday, November 9th. Sandler O’Neill set a $95.00 price target on Broadridge Financial Solutions and gave the stock a hold rating in a report on Thursday, February 8th. ValuEngine cut Broadridge Financial Solutions from a buy rating to a hold rating in a report on Friday, December 1st. Zacks Investment Research cut Broadridge Financial Solutions from a buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Raymond James Financial restated a hold rating on shares of Broadridge Financial Solutions in a report on Monday, December 4th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $97.25.
Shares of Broadridge Financial Solutions (BR) opened at $93.88 on Friday. Broadridge Financial Solutions has a twelve month low of $66.49 and a twelve month high of $97.54. The company has a market capitalization of $10,754.35, a P/E ratio of 29.90, a P/E/G ratio of 2.28 and a beta of 1.01. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.21. Broadridge Financial Solutions had a return on equity of 44.02% and a net margin of 8.74%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $945.80 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. equities analysts predict that Broadridge Financial Solutions will post 4.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 15th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.50%.
In related news, insider Robert Schifellite sold 49,181 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $89.47, for a total value of $4,400,224.07. Following the transaction, the insider now directly owns 149,181 shares in the company, valued at approximately $13,347,224.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard J. Haviland sold 7,655 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the completion of the transaction, the director now owns 44,482 shares in the company, valued at $3,937,101.82. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BR. Toronto Dominion Bank lifted its holdings in shares of Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares in the last quarter. Advisory Services Network LLC raised its position in Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at $200,000. Moody Aldrich Partners LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at $204,000. Finally, Aureus Asset Management LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $209,000. Institutional investors own 83.50% of the company’s stock.
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Broadridge Financial Solutions Company Profile
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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