StockNews.com Upgrades Broadridge Financial Solutions (NYSE:BR) to “Buy”

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Evercore ISI reaffirmed an outperform rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reaffirmed a neutral rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $206.67.

Broadridge Financial Solutions Price Performance

BR stock opened at $201.36 on Friday. The company’s 50-day moving average is $200.29 and its 200-day moving average is $195.66. Broadridge Financial Solutions has a 1 year low of $144.54 and a 1 year high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $23.71 billion, a PE ratio of 35.08 and a beta of 0.98.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,761 shares of company stock valued at $5,223,959. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Broadridge Financial Solutions in the first quarter worth about $1,178,000. Sei Investments Co. lifted its holdings in shares of Broadridge Financial Solutions by 4.1% during the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider’s stock valued at $4,021,000 after buying an additional 779 shares during the period. Concurrent Investment Advisors LLC increased its position in Broadridge Financial Solutions by 4.8% during the first quarter. Concurrent Investment Advisors LLC now owns 8,105 shares of the business services provider’s stock valued at $1,660,000 after acquiring an additional 373 shares during the last quarter. Nixon Peabody Trust Co. lifted its holdings in Broadridge Financial Solutions by 28.5% in the first quarter. Nixon Peabody Trust Co. now owns 1,928 shares of the business services provider’s stock valued at $395,000 after acquiring an additional 428 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Broadridge Financial Solutions in the first quarter worth about $1,379,000. Institutional investors own 90.03% of the company’s stock.

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.