Broadridge Financial Solutions (NYSE:BR) Reaches New 1-Year High at $177.90

Broadridge Financial Solutions, Inc. (NYSE:BR)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $177.90 and last traded at $177.90, with a volume of 11039 shares. The stock had previously closed at $172.67.

A number of research firms have commented on BR. DA Davidson raised their price objective on Broadridge Financial Solutions from $152.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Raymond James raised their price objective on Broadridge Financial Solutions from $185.00 to $187.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $181.00 to $197.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Buy” and an average price target of $178.60.

The company has a 50 day moving average price of $170.11 and a 200-day moving average price of $164.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.15. The company has a market cap of $20.67 billion, a P/E ratio of 37.21 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, August 11th. The business services provider reported $2.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.19. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. Broadridge Financial Solutions had a return on equity of 42.69% and a net margin of 10.96%. During the same quarter in the previous year, the company posted $2.15 EPS. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 6.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Wednesday, September 15th were given a dividend of $0.64 per share. The ex-dividend date was Tuesday, September 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.58. Broadridge Financial Solutions’s payout ratio is currently 45.23%.

In other Broadridge Financial Solutions news, President Christopher John Perry sold 900 shares of Broadridge Financial Solutions stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $175.07, for a total transaction of $157,563.00. Following the transaction, the president now directly owns 57,237 shares of the company’s stock, valued at approximately $10,020,481.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Liberatore sold 32,727 shares of Broadridge Financial Solutions stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $175.65, for a total value of $5,748,497.55. Following the transaction, the vice president now directly owns 20,612 shares in the company, valued at $3,620,497.80. The disclosure for this sale can be found here. Insiders have sold a total of 242,813 shares of company stock worth $40,779,494 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. RMR Wealth Builders acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $25,000. Ameritas Investment Company LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $26,000. Lion Street Advisors LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. FormulaFolio Investments LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $39,000. Finally, Sandy Spring Bank increased its holdings in Broadridge Financial Solutions by 38.0% during the 2nd quarter. Sandy Spring Bank now owns 294 shares of the business services provider’s stock worth $47,000 after purchasing an additional 81 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Company Profile (NYSE:BR)

Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.

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