Broadridge Financial Solutions (NYSE:BR) Given “Outperform” Rating at Evercore ISI

Evercore ISI reissued their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a report published on Tuesday, Benzinga reports. The firm currently has a $230.00 target price on the business services provider’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Broadridge Financial Solutions from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an equal weight rating in a research report on Friday, December 8th. Royal Bank of Canada upped their price objective 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. Finally, Raymond James upped 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of Hold and a consensus price target of $203.17.

Broadridge Financial Solutions Stock Up 0.5 %

BR stock opened at $204.86 on Tuesday. The company has a fifty day moving average price of $201.97 and a 200 day moving average price of $192.39. Broadridge Financial Solutions has a 12 month low of $139.35 and a 12 month high of $210.24. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 35.69 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock worth $9,745,637 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of large investors have recently added to or reduced their stakes in the business. Procyon Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 2.3% during the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after purchasing an additional 52 shares during the last quarter. New York Life Investment Management LLC boosted its stake in shares of Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after purchasing an additional 52 shares during the last quarter. Optas LLC boosted its stake in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after purchasing an additional 57 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after purchasing an additional 58 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

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.