Broadridge Financial Solutions, Inc. (BR) To Go Ex-Dividend on December 13th

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, December 13th.

Broadridge Financial Solutions has raised its dividend by an average of 11.0% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Broadridge Financial Solutions has a dividend payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Broadridge Financial Solutions to earn $9.35 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.6%.

Broadridge Financial Solutions Trading Up 0.1 %

Broadridge Financial Solutions stock opened at $227.78 on Friday. Broadridge Financial Solutions has a 52-week low of $180.31 and a 52-week high of $230.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. The firm has a 50-day moving average price of $215.95 and a two-hundred day moving average price of $208.02.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. 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 report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $217.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares in the company, valued at $14,126,070. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,696 shares of company stock worth $24,782,982. 1.30% of the stock is owned by insiders.

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.