Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) reached a new 52-week high during trading on Wednesday . The company traded as high as $99.97 and last traded at $100.03, with a volume of 331948 shares traded. The stock had previously closed at $98.59.
BR has been the topic of a number of research reports. DA Davidson reissued a “hold” rating and issued a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Barclays boosted their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Raymond James Financial reissued a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Finally, Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $98.75.
The company has a market capitalization of $11,523.10, a PE ratio of 26.48, a PEG ratio of 2.45 and a beta of 1.01. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $945.80 million. Broadridge Financial Solutions had a return on equity of 44.02% and a net margin of 8.74%. Broadridge Financial Solutions’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.50%.
In other news, insider Robert Schifellite sold 49,181 shares of Broadridge Financial Solutions stock in a transaction on Friday, December 8th. The stock was sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the transaction, the insider now owns 149,181 shares in the company, valued at $13,347,224.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the transaction, the director now owns 44,482 shares in the company, valued at approximately $3,937,101.82. The disclosure for this sale can be found here. Insiders have sold 166,675 shares of company stock worth $15,441,281 over the last ninety days. 2.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC grew its holdings in shares of Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at $296,000. JPMorgan Chase & Co. grew its holdings in shares of Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock valued at $40,590,000 after buying an additional 71,106 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Broadridge Financial Solutions by 5.0% during the third quarter. Aperio Group LLC now owns 94,080 shares of the business services provider’s stock valued at $7,604,000 after buying an additional 4,465 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Broadridge Financial Solutions by 31.0% during the third quarter. Prudential Financial Inc. now owns 96,849 shares of the business services provider’s stock valued at $7,827,000 after buying an additional 22,922 shares in the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.
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Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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