Broadridge Financial Solutions, Inc. (NYSE:BR) Receives $241.00 Average PT from Analysts

Broadridge Financial Solutions, Inc. (NYSE:BR) has earned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $241.00.

BR has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd.

Insiders Place Their Bets

In other news, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $34,000. Fortitude Family Office LLC lifted its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the last quarter. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $36,000. Finally, FSA Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $39,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $239.80 on Tuesday. The stock has a 50-day moving average of $237.72 and a 200-day moving average of $228.44. Broadridge Financial Solutions has a one year low of $188.30 and a one year high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $28.06 billion, a PE ratio of 37.53 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

About Broadridge Financial Solutions

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.