Brokerages Set Broadridge Financial Solutions, Inc. (NYSE:BR) Price Target at $264.83

Broadridge Financial Solutions, Inc. (NYSE:BR) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $259.8333.

Several analysts have issued reports on BR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. DA Davidson reissued a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reduced their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th.

Broadridge Financial Solutions Price Performance

BR stock opened at $224.84 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions has a one year low of $212.33 and a one year high of $271.91. The firm has a market capitalization of $26.25 billion, a PE ratio of 28.79 and a beta of 0.96. The firm has a 50-day moving average of $232.67 and a two-hundred day moving average of $241.20.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. On average, analysts forecast that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be given a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is presently 49.94%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total value of $900,384.00. Following the transaction, the president directly owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several large investors have recently made changes to their positions in the company. First Horizon Corp acquired a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $25,000. NewSquare Capital LLC increased its stake in shares of Broadridge Financial Solutions by 89.5% during the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after purchasing an additional 51 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Guerra Advisors Inc acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Institutional investors 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.