Broadridge Financial Solutions (NYSE:BR) Sets New 1-Year High – Time to Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high during trading on Monday . The company traded as high as $242.70 and last traded at $241.98, with a volume of 43524 shares changing hands. The stock had previously closed at $240.42.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Up 0.4 %

The stock has a market capitalization of $28.38 billion, a P/E ratio of 37.95 and a beta of 1.08. The firm has a 50-day simple moving average of $232.06 and a 200 day simple moving average of $222.04. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock valued at $5,050,766 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC lifted its holdings in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter worth $38,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth $41,000. 90.03% of the stock is currently owned by institutional investors.

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.