Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $222.00

Broadridge Financial Solutions (NYSE:BR) had its price target raised by Morgan Stanley from $207.00 to $222.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

A number of other research analysts also recently commented on the company. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, DA Davidson restated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Trading Down 0.2 %

NYSE BR opened at $240.11 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. Broadridge Financial Solutions has a one year low of $188.30 and a one year high of $242.39. The company has a 50-day simple moving average of $231.55 and a 200-day simple moving average of $220.97. The firm has a market capitalization of $28.07 billion, a PE ratio of 37.58 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results 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 prior year, the company earned $0.92 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions will post 8.55 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,861 shares of company stock valued at $7,063,250. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at $2,784,000. Czech National Bank raised its position in shares of Broadridge Financial Solutions by 5.6% during the third quarter. Czech National Bank now owns 23,774 shares of the business services provider’s stock worth $5,112,000 after purchasing an additional 1,254 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Broadridge Financial Solutions by 21.9% during the third quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock valued at $8,184,000 after purchasing an additional 6,829 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Broadridge Financial Solutions by 39.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,178 shares of the business services provider’s stock valued at $468,000 after purchasing an additional 620 shares during the period. Finally, Miracle Mile Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 10.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $264,000 after purchasing an additional 114 shares during the period. 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.