According to Zacks, “Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. “
Several other research analysts have also commented on BR. Barclays PLC lifted their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an equal weight rating in a report on Wednesday, August 10th. Avondale Partners lowered Broadridge Financial Solutions from an outperform rating to a market perform rating and set a $65.00 price target on the stock. in a report on Wednesday, June 15th. Raymond James Financial Inc. lowered Broadridge Financial Solutions from an outperform rating to a market perform rating in a report on Tuesday, June 7th. They noted that the move was a valuation call. Finally, Atlantic Securities assumed coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They set an overweight rating and a $82.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $72.25.
Broadridge Financial Solutions (NYSE:BR) opened at 67.38 on Monday. The company has a market capitalization of $7.97 billion, a PE ratio of 26.63 and a beta of 0.99. The stock has a 50 day moving average of $68.93 and a 200-day moving average of $64.39. Broadridge Financial Solutions has a 12-month low of $48.56 and a 12-month high of $71.74.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.45. Broadridge Financial Solutions had a net margin of 10.61% and a return on equity of 34.79%. The firm had revenue of $975 million for the quarter, compared to analysts’ expectations of $991.13 million. During the same quarter last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts expect that Broadridge Financial Solutions will post $3.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 15th will be issued a $0.33 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, September 13th. Broadridge Financial Solutions’s payout ratio is 52.17%.
In other Broadridge Financial Solutions news, insider Robert F. Kalenka sold 53,818 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $68.96, for a total value of $3,711,289.28. Following the completion of the transaction, the insider now directly owns 52,447 shares of the company’s stock, valued at approximately $3,616,745.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Laura Matlin sold 900 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $68.51, for a total value of $61,659.00. Following the completion of the transaction, the vice president now directly owns 5,561 shares of the company’s stock, valued at $380,984.11. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock valued at $103,000 after buying an additional 176 shares in the last quarter. Integrated Investment Consultants LLC increased its position in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock valued at $139,000 after buying an additional 1,450 shares in the last quarter. IFP Advisors Inc increased its position in Broadridge Financial Solutions by 64.5% in the first quarter. IFP Advisors Inc now owns 2,254 shares of the company’s stock valued at $134,000 after buying an additional 884 shares in the last quarter. Capital Guardian Trust Co. increased its position in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock valued at $165,000 after buying an additional 299 shares in the last quarter. Finally, Strs Ohio purchased a new position in Broadridge Financial Solutions during the second quarter valued at $173,000. 87.38% of the stock is owned by institutional investors.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.
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