Broadridge Financial Solutions (NYSE:BR) Given New $222.00 Price Target at Morgan Stanley

Broadridge Financial Solutions (NYSE:BR) had its price objective raised by Morgan Stanley from $207.00 to $222.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

BR has been the subject of several other reports. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson restated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Up 0.2 %

NYSE:BR opened at $238.72 on Monday. Broadridge Financial Solutions has a one year low of $188.30 and a one year high of $241.45. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The company has a market cap of $27.90 billion, a PE ratio of 37.36 and a beta of 1.08. The firm’s 50 day simple moving average is $231.37 and its 200 day simple moving average is $220.56.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business earned $0.92 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions will post 8.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its stake in Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after buying an additional 51,439 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp increased its position in Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after purchasing an additional 20,775 shares during the period. Finally, abrdn plc grew its stake in shares of Broadridge Financial Solutions by 5.5% in the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after buying an additional 27,869 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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.