Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $206.67 Consensus Price Target from Brokerages

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

BR has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares of the company’s stock, 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 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of Broadridge Financial Solutions in the third quarter valued at about $25,000. Money Concepts Capital Corp lifted its position in shares of Broadridge Financial Solutions by 400.0% in the fourth quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $27,000. Headinvest LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $32,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $34,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $192.98 on Tuesday. The business has a 50 day moving average of $200.84 and a 200 day moving average of $193.89. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 33.62 and a beta of 0.99. Broadridge Financial Solutions has a 1-year low of $139.52 and a 1-year high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

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 for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

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.