Broadridge Financial Solutions Inc. (NYSE:BR) has earned a consensus rating of “Hold” from the six analysts that are currently covering the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $72.50.
A number of research firms recently commented on BR. Sandler O’Neill lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a research report on Thursday. Zacks Investment Research lowered Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Atlantic Securities assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, September 13th. They issued an “overweight” rating and a $82.00 price objective for the company. Barclays PLC upped their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 10th. Finally, Avondale Partners downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research note on Wednesday, June 15th.
Broadridge Financial Solutions (NYSE:BR) opened at 67.79 on Thursday. The firm has a market cap of $8.02 billion, a P/E ratio of 26.79 and a beta of 0.99. The company has a 50-day moving average price of $68.89 and a 200-day moving average price of $64.47. Broadridge Financial Solutions has a 1-year low of $48.56 and a 1-year high of $71.74.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.45 EPS for the quarter, meeting analysts’ consensus estimates of $1.45. The business earned $975 million during the quarter, compared to analyst estimates of $991.13 million. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. Broadridge Financial Solutions’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions will post $3.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, September 13th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. Broadridge Financial Solutions’s dividend payout ratio is 52.17%.
In other news, insider Robert F. Kalenka sold 53,818 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $68.96, for a total transaction of $3,711,289.28. Following the completion of the transaction, the insider now owns 52,447 shares in the company, valued at approximately $3,616,745.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Daly sold 6,095 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $68.13, for a total value of $415,252.35. Following the transaction, the insider now owns 254,104 shares of the company’s stock, valued at approximately $17,312,105.52. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Broadridge Financial Solutions by 35.3% in the second quarter. BlackRock Fund Advisors now owns 5,502,944 shares of the company’s stock valued at $358,792,000 after buying an additional 1,436,828 shares during the last quarter. Norges Bank purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at $63,722,000. Bank of New York Mellon Corp increased its position in Broadridge Financial Solutions by 67.4% in the second quarter. Bank of New York Mellon Corp now owns 2,457,241 shares of the company’s stock valued at $160,211,000 after buying an additional 989,508 shares during the last quarter. Fiera Capital Corp purchased a new position in Broadridge Financial Solutions during the second quarter valued at $51,374,000. Finally, Riverhead Capital Management LLC increased its position in Broadridge Financial Solutions by 4,441.2% in the second quarter. Riverhead Capital Management LLC now owns 803,789 shares of the company’s stock valued at $7,379,000 after buying an additional 786,089 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.
About Broadridge Financial Solutions
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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