Broadridge Financial Solutions, Inc. (NYSE:BR) Receives Consensus Recommendation of “Hold” from Analysts

Broadridge Financial Solutions, Inc. (NYSE:BR) has earned an average recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $206.67.

A number of research firms have commented on BR. Raymond James boosted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th.

Broadridge Financial Solutions Price Performance

BR opened at $194.23 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions has a 1-year low of $139.52 and a 1-year high of $210.24. The company has a 50-day moving average of $200.66 and a 200-day moving average of $194.34. The company has a market capitalization of $22.87 billion, a P/E ratio of 33.84 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities analysts expect that Broadridge Financial Solutions will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several hedge funds have recently made changes to their positions in the business. Stifel Financial Corp grew its position in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after buying an additional 1,456,847 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter worth $144,033,000. Envestnet Asset Management Inc. increased its stake in Broadridge Financial Solutions by 124.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after purchasing an additional 381,882 shares in the last quarter. APG Asset Management US Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $70,498,000. Finally, Norges Bank acquired a new position in Broadridge Financial Solutions in the 4th quarter worth approximately $67,605,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.