A number of other research analysts also recently commented on BR. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $190.00 to $212.00 and gave the company an outperform rating in a research note on Friday, December 8th. Evercore ISI boosted their price objective on shares of Broadridge Financial Solutions from $226.00 to $230.00 and gave the stock an outperform rating in a research note on Tuesday, December 5th. Wolfe Research upgraded shares of Broadridge Financial Solutions from an underperform rating to a peer perform rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an equal weight rating in a research report on Friday, December 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $194.00.
Broadridge Financial Solutions Stock Performance
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Broadridge Financial Solutions had a net margin of 10.81% and a return on equity of 42.48%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, sell-side analysts predict that Broadridge Financial Solutions will post 7.72 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is currently 56.84%.
Insider Buying and Selling at Broadridge Financial Solutions
In other news, President Christopher John Perry sold 20,614 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $176.94, for a total transaction of $3,647,441.16. Following the completion of the transaction, the president now owns 56,738 shares in the company, valued at approximately $10,039,221.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Christopher John Perry sold 20,614 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $176.94, for a total transaction of $3,647,441.16. Following the transaction, the president now directly owns 56,738 shares in the company, valued at approximately $10,039,221.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Laura Matlin sold 4,090 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $189.49, for a total value of $775,014.10. Following the completion of the sale, the vice president now owns 6,481 shares in the company, valued at $1,228,084.69. The disclosure for this sale can be found here. Insiders sold 42,909 shares of company stock worth $8,003,375 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of BR. OFI Invest Asset Management bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $25,000. Money Concepts Capital Corp increased its holdings in shares of Broadridge Financial Solutions by 400.0% in the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 156 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth $27,000. Larson Financial Group LLC grew its stake in Broadridge Financial Solutions by 56.4% during the 2nd quarter. Larson Financial Group LLC now owns 183 shares of the business services provider’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $32,000. Institutional investors own 89.36% 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.
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