Broadridge Financial Solutions (NYSE:BR) Given New $224.00 Price Target at JPMorgan Chase & Co.

Broadridge Financial Solutions (NYSE:BR) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $213.00 to $224.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.45% from the stock’s current price.

A number of other brokerages have also weighed in on BR. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $213.17.

Broadridge Financial Solutions Trading Down 1.9 %

Shares of BR stock traded down $4.09 during trading hours on Wednesday, hitting $214.46. 265,219 shares of the company’s stock traded hands, compared to its average volume of 509,884. The stock’s 50 day simple moving average is $202.67 and its 200 day simple moving average is $201.18. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $25.34 billion, a PE ratio of 36.90 and a beta of 1.04. Broadridge Financial Solutions has a 12 month low of $166.73 and a 12 month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm earned $3.21 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at $32,000. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter worth approximately $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. Stuart Chaussee & Associates Inc. acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $34,000. Finally, Manchester Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

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.