StockNews.com Upgrades Broadridge Financial Solutions (NYSE:BR) to Buy

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a report released on Saturday morning.

Several other equities analysts have also recently commented on BR. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

BR opened at $231.90 on Friday. The stock’s 50-day moving average price is $235.35 and its 200 day moving average price is $225.50. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 36.29 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

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 (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $0.92 EPS. As a group, sell-side analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current 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 issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Insider Activity

In other news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,798 shares of company stock worth $6,806,872. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of BR. True Wealth Design LLC increased its position in shares of Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the period. Gen Wealth Partners Inc purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $39,000. 90.03% of the stock is owned by hedge funds and other 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.