Broadridge Financial Solutions (NYSE:BR) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $246.00 price objective on the business services provider’s stock.

Several other brokerages also recently weighed in on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Up 1.8 %

Shares of Broadridge Financial Solutions stock opened at $225.21 on Wednesday. The business’s fifty day moving average price is $214.29 and its two-hundred day moving average price is $206.98. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.08. The company has a market capitalization of $26.32 billion, a P/E ratio of 38.96 and a beta of 1.05. Broadridge Financial Solutions has a 1-year low of $175.21 and a 1-year high of $226.16.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, research analysts forecast that Broadridge Financial Solutions will post 8.51 EPS for the current year.

Insider Buying and Selling

In related news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares in the company, valued at approximately $43,190,909.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,898 shares of company stock worth $33,293,234 in the last three months. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Broadridge Financial Solutions

Institutional investors have recently bought and sold shares of the company. Bogart Wealth LLC boosted its position in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $34,000. Finally, Family Firm Inc. acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $37,000. Institutional investors and hedge funds 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.