Broadridge Financial Solutions (NYSE:BR) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a report published on Friday, Benzinga reports. They currently have a $239.00 target price on the business services provider’s stock.

A number of other research analysts also recently commented on BR. StockNews.com downgraded Broadridge Financial Solutions from a buy rating to a hold rating in a research note on Friday, June 14th. Evercore ISI restated an outperform rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, DA Davidson restated a neutral rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $206.67.

Broadridge Financial Solutions Stock Down 1.1 %

NYSE:BR opened at $197.00 on Friday. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 33.62 and a beta of 1.03. Broadridge Financial Solutions has a 1-year low of $161.33 and a 1-year high of $210.24. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The business’s fifty day moving average price is $198.10 and its 200 day moving average price is $199.91.

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

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the company’s 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 completion of the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 in the company, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now 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. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Hedge funds have recently added to or reduced their stakes in the business. SRN Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 13.7% in the 1st quarter. SRN Advisors LLC now owns 11,294 shares of the business services provider’s stock worth $2,314,000 after buying an additional 1,357 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Broadridge Financial Solutions by 10.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock valued at $114,000 after buying an additional 55 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Broadridge Financial Solutions by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after buying an additional 2,685 shares during the last quarter. Cetera Advisors LLC boosted its position in Broadridge Financial Solutions by 66.4% in the 1st quarter. Cetera Advisors LLC now owns 9,542 shares of the business services provider’s stock valued at $1,955,000 after buying an additional 3,807 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Broadridge Financial Solutions by 244.7% in the 1st quarter. Cetera Investment Advisers now owns 27,070 shares of the business services provider’s stock valued at $5,546,000 after buying an additional 19,216 shares during the last quarter. 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.