Broadridge Financial Solutions (NYSE:BR)’s share price hit a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $111.45 and last traded at $111.31, with a volume of 372464 shares trading hands. The stock had previously closed at $109.71.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Wednesday, January 31st. DA Davidson increased their price objective on shares of Broadridge Financial Solutions from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 28th. Sandler O’Neill reiterated a “hold” rating and set a $101.00 price objective on shares of Broadridge Financial Solutions in a research report on Thursday, February 15th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Barclays increased their price objective on shares of Broadridge Financial Solutions from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $100.25.
The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $13,079.27, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.78 and a beta of 0.85.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.21. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $945.80 million. During the same period in the prior year, the company posted $0.39 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities research analysts expect that Broadridge Financial Solutions will post 4.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th were given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.65%.
In related news, insider Douglas Richard Deschutter sold 56,539 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $92.60, for a total transaction of $5,235,511.40. Following the transaction, the insider now directly owns 98,427 shares of the company’s stock, valued at $9,114,340.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie A. Brun sold 7,058 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $95.24, for a total transaction of $672,203.92. Following the transaction, the director now directly owns 37,846 shares in the company, valued at $3,604,453.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,743 shares of company stock valued at $15,985,048. 2.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BR. Captrust Financial Advisors bought a new position in Broadridge Financial Solutions during the fourth quarter worth $133,000. Assetmark Inc. boosted its stake in Broadridge Financial Solutions by 397.5% during the fourth quarter. Assetmark Inc. now owns 1,582 shares of the business services provider’s stock worth $143,000 after acquiring an additional 1,264 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in Broadridge Financial Solutions during the fourth quarter worth $200,000. Polaris Greystone Financial Group LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth $202,000. Finally, Sterling Capital Management LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth $203,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.
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About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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