Broadridge Financial Solutions (NYSE:BR) Reaches New 12-Month High – What’s Next?

Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $238.95 and last traded at $238.79, with a volume of 16226 shares changing hands. The stock had previously closed at $237.35.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BR. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Up 0.8 %

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $27.98 billion, a P/E ratio of 41.43 and a beta of 1.08. The stock’s 50 day simple moving average is $230.15 and its 200 day simple moving average is $219.23.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its holdings in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after acquiring an additional 45 shares during the period. Avestar Capital LLC increased its stake in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares in the last quarter. UMB Bank n.a. boosted its holdings in Broadridge Financial Solutions by 5.5% during the 4th quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after acquiring an additional 57 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Broadridge Financial Solutions by 12.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 526 shares of the business services provider’s stock worth $119,000 after acquiring an additional 57 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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.