Royal Bank of Canada Reaffirms Outperform Rating for Broadridge Financial Solutions (NYSE:BR)

Royal Bank of Canada reissued their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note issued to investors on Monday,Benzinga reports. They currently have a $259.00 price target on the business services provider’s stock.

A number of other analysts have also issued reports on the company. Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price on the stock. Morgan Stanley boosted their target price on 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. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Stock Down 1.5%

Shares of NYSE BR opened at $238.98 on Monday. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 37.40 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 52-week low of $192.68 and a 52-week high of $247.01. The business’s 50 day moving average is $235.14 and its two-hundred day moving average is $233.23.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 earnings per share. Research analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,302 shares of company stock valued at $30,242,095. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $45,000. Park Place Capital Corp boosted its stake in Broadridge Financial Solutions by 31.3% in the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after acquiring an additional 1,391 shares in the last quarter. Crown Oak Advisors LLC boosted its stake in Broadridge Financial Solutions by 10.8% in the fourth quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock valued at $8,224,000 after acquiring an additional 3,553 shares in the last quarter. Tributary Capital Management LLC boosted its stake in Broadridge Financial Solutions by 43.4% in the fourth quarter. Tributary Capital Management LLC now owns 5,003 shares of the business services provider’s stock valued at $1,131,000 after acquiring an additional 1,513 shares in the last quarter. Finally, Northstar Asset Management Inc. acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $2,750,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

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.