Broadridge Financial Solutions (NYSE:BR) Receives Neutral Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Broadridge Financial Solutions (NYSE:BRFree Report) in a research report report published on Tuesday, Benzinga reports. They currently have a $185.00 price target on the business services provider’s stock.

Several other analysts also recently weighed in on BR. StockNews.com upgraded Broadridge Financial Solutions from a hold rating to a buy rating in a research report on Thursday, June 6th. Evercore ISI reiterated an outperform rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of Hold and a consensus target price of $206.67.

Check Out Our Latest Research Report on BR

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $196.15 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a fifty-two week low of $156.26 and a fifty-two week high of $210.24. The stock has a 50 day moving average price of $198.08 and a two-hundred day moving average price of $199.38. The company has a market capitalization of $23.18 billion, a P/E ratio of 33.47 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new stake in Broadridge Financial Solutions in the first quarter worth $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $34,000. Manchester Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Headinvest LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter worth $32,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

About Broadridge Financial Solutions

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.