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

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $246.00 price objective on the business services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.82% from the stock’s previous close.

BR has been the topic of several other research reports. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $2.82 during trading on Wednesday, reaching $224.00. The company had a trading volume of 17,160 shares, compared to its average volume of 518,329. Broadridge Financial Solutions has a twelve month low of $175.21 and a twelve month high of $225.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $26.18 billion, a PE ratio of 37.74 and a beta of 1.05. The firm’s fifty day moving average is $214.04 and its 200 day moving average is $206.69.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Broadridge Financial Solutions will post 8.51 EPS for the current year.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,713 shares of company stock worth $27,967,456 in the last quarter. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norden Group LLC bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $286,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Broadridge Financial Solutions by 2.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,710 shares of the business services provider’s stock worth $4,038,000 after buying an additional 508 shares during the period. MGB Wealth Management LLC raised its stake in Broadridge Financial Solutions by 10.2% in the first quarter. MGB Wealth Management LLC now owns 3,455 shares of the business services provider’s stock worth $708,000 after buying an additional 320 shares in the last quarter. Empirical Finance LLC grew its position in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Empirical Finance LLC now owns 4,130 shares of the business services provider’s stock worth $846,000 after buying an additional 144 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Broadridge Financial Solutions by 39.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,144 shares of the business services provider’s stock valued at $5,766,000 after buying an additional 8,001 shares during the last quarter. 90.03% of the stock is 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.