Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $249.00

Broadridge Financial Solutions (NYSE:BR) had its target price hoisted by JPMorgan Chase & Co. from $231.00 to $249.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Down 0.2 %

BR stock opened at $240.11 on Monday. 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 stock has a market capitalization of $28.07 billion, a P/E ratio of 37.58 and a beta of 1.08. Broadridge Financial Solutions has a fifty-two week low of $188.30 and a fifty-two week high of $242.39. The business has a 50-day moving average of $231.55 and a 200-day moving average of $220.97.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $0.92 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,861 shares of company stock worth $7,063,250 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently bought and sold shares of BR. Sanctuary Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $2,784,000. Czech National Bank grew its position in Broadridge Financial Solutions by 5.6% during the third quarter. Czech National Bank now owns 23,774 shares of the business services provider’s stock worth $5,112,000 after buying an additional 1,254 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Broadridge Financial Solutions by 21.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock worth $8,184,000 after acquiring an additional 6,829 shares during the period. GAMMA Investing LLC increased its stake in Broadridge Financial Solutions by 39.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,178 shares of the business services provider’s stock worth $468,000 after acquiring an additional 620 shares during the period. Finally, Miracle Mile Advisors LLC raised its holdings in Broadridge Financial Solutions by 10.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $264,000 after acquiring an additional 114 shares in the last quarter. 90.03% of the stock is owned by 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.