Broadridge Financial Solutions (NYSE:BR) Sets New 1-Year High at $211.79

Broadridge Financial Solutions, Inc. (NYSE:BR)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $211.79 and last traded at $211.71, with a volume of 141467 shares traded. The stock had previously closed at $203.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BR. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Up 2.2 %

The firm has a market cap of $25.13 billion, a P/E ratio of 36.30 and a beta of 1.04. The business’s 50-day moving average is $200.77 and its two-hundred day moving average is $200.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity

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

Institutional Trading of Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LifeSteps Financial Inc. acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $32,000. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in Broadridge Financial Solutions in the 4th quarter worth about $34,000. Manchester Capital Management LLC raised its stake in 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 purchasing an additional 60 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $34,000. Institutional investors own 90.03% of the company’s stock.

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.