Broadridge Financial Solutions (NYSE:BR) Reaches New 12-Month High – Here’s What Happened

Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high on Wednesday . The stock traded as high as $247.01 and last traded at $246.68, with a volume of 532880 shares trading hands. The stock had previously closed at $244.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Down 6.1 %

The stock has a fifty day moving average of $237.48 and a 200 day moving average of $228.53. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last issued 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 net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company posted $0.92 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a $0.88 dividend. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. 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, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently modified their holdings of BR. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Fortitude Family Office LLC grew its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $36,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $41,000. Finally, Curio Wealth LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $45,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Company Profile

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.