Broadridge Financial Solutions, Inc. (BR) to Issue Quarterly Dividend of $0.37 on January 3rd
Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.365 per share by the business services provider on Wednesday, January 3rd. This represents a $1.46 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 14th.
Broadridge Financial Solutions has increased its dividend payment by an average of 17.9% per year over the last three years and has raised its dividend every year for the last 9 years. Broadridge Financial Solutions has a dividend payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadridge Financial Solutions to earn $4.04 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 36.1%.
Broadridge Financial Solutions (BR) opened at $89.53 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70. Broadridge Financial Solutions has a one year low of $64.57 and a one year high of $91.75. The stock has a market cap of $10,404.64, a PE ratio of 26.81, a PEG ratio of 2.40 and a beta of 0.99.
In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the sale, the director now directly owns 44,482 shares of the company’s stock, valued at $3,937,101.82. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
A number of research analysts have recently weighed in on the stock. DA Davidson reissued a “hold” rating and set a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Raymond James Financial reissued a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. ValuEngine cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays reissued a “hold” rating and set a $95.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday. Finally, BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Five analysts have rated the stock with a hold rating, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $90.50.
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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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