Broadridge Financial Solutions, Inc. (NYSE:BR) Declares $0.88 Quarterly Dividend

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 annualized dividend and a dividend yield of 1.54%.

Broadridge Financial Solutions has raised its dividend by an average of 11.0% annually over the last three years and has increased its dividend every year for the last 18 years. Broadridge Financial Solutions has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadridge Financial Solutions to earn $9.35 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.6%.

Broadridge Financial Solutions Trading Down 0.4 %

Shares of NYSE BR traded down $0.94 during trading hours on Thursday, hitting $228.07. The company’s stock had a trading volume of 130,144 shares, compared to its average volume of 518,221. Broadridge Financial Solutions has a 12 month low of $180.16 and a 12 month high of $230.00. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of 39.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The business has a 50-day simple moving average of $215.21 and a 200-day simple moving average of $207.66.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, analysts anticipate that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,996 shares of company stock valued at $30,073,732. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $217.83.

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.