JPMorgan Chase & Co. Issues Positive Forecast for Broadridge Financial Solutions (NYSE:BR) Stock Price

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

BR has been the topic of a number of other research reports. Morgan Stanley raised 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 report on Monday. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of NYSE BR opened at $238.72 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s 50 day moving average price is $231.37 and its two-hundred day moving average price is $220.56. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $241.45. The stock has a market capitalization of $27.90 billion, a P/E ratio of 37.36 and a beta of 1.08.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Insider Activity

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently modified their holdings of BR. NBC Securities Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after buying an additional 45 shares during the period. Adero Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its stake in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after buying an additional 46 shares in the last quarter. Avestar Capital LLC lifted its stake in Broadridge Financial Solutions by 4.0% during the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after purchasing an additional 48 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 52 shares during the period. 90.03% of the stock is currently owned by hedge funds and other 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.