Shares of Broadridge Financial Solutions (NYSE:BR) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $97.67.
Several analysts have commented on BR shares. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Wednesday, January 31st. Sandler O’Neill set a $95.00 price target on Broadridge Financial Solutions and gave the company a “hold” rating in a report on Thursday, February 8th. Barclays lifted their price target on Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, DA Davidson lifted their price target on Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 28th.
Broadridge Financial Solutions traded up $0.78, hitting $115.54, during trading on Monday, MarketBeat Ratings reports. The stock had a trading volume of 793,034 shares, compared to its average volume of 724,052. Broadridge Financial Solutions has a 1-year low of $71.58 and a 1-year high of $118.36. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.73 and a beta of 0.86. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.04.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.21. Broadridge Financial Solutions had a net margin of 9.37% and a return on equity of 45.33%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. research analysts predict that Broadridge Financial Solutions will post 4.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 15th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.65%.
In other news, insider Timothy C. Gokey sold 45,245 shares of the business’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $115.23, for a total transaction of $5,213,581.35. Following the completion of the sale, the insider now owns 94,712 shares in the company, valued at approximately $10,913,663.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam D. Amsterdam sold 19,600 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. Insiders sold a total of 128,692 shares of company stock valued at $14,285,755 in the last 90 days. 2.60% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Centaurus Financial Inc. acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $116,000. Captrust Financial Advisors acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $133,000. Assetmark Inc. lifted its position in Broadridge Financial Solutions by 397.5% during the 4th 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. acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $200,000. Finally, Weatherstone Capital Management acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $201,000. Institutional investors and hedge funds own 84.64% 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 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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