Broadridge Financial Solutions (BR) Hits New 12-Month High at $138.24

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $138.24 and last traded at $137.70, with a volume of 9532 shares trading hands. The stock had previously closed at $136.46.

Several equities analysts have commented on BR shares. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, August 10th. ValuEngine downgraded Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Wolfe Research started coverage on Broadridge Financial Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating for the company. Sandler O’Neill reiterated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Finally, SunTrust Banks started coverage on Broadridge Financial Solutions in a research report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $123.40.

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96. The stock has a market cap of $15.92 billion, a P/E ratio of 32.87, a PEG ratio of 2.94 and a beta of 0.89.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.01). Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. equities analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be issued a $0.485 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. This represents a $1.94 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, September 17th. Broadridge Financial Solutions’s payout ratio is presently 34.84%.

In other Broadridge Financial Solutions news, VP James M. Young sold 44,726 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $129.79, for a total value of $5,804,987.54. Following the completion of the sale, the vice president now directly owns 64,848 shares in the company, valued at $8,416,621.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of BR. Victory Capital Management Inc. grew its stake in Broadridge Financial Solutions by 7.7% in the first quarter. Victory Capital Management Inc. now owns 38,829 shares of the business services provider’s stock valued at $4,259,000 after acquiring an additional 2,787 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $2,242,000. State of Wisconsin Investment Board grew its stake in Broadridge Financial Solutions by 13.9% in the first quarter. State of Wisconsin Investment Board now owns 136,569 shares of the business services provider’s stock valued at $14,980,000 after acquiring an additional 16,674 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Broadridge Financial Solutions by 12.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 447,862 shares of the business services provider’s stock valued at $49,126,000 after acquiring an additional 49,428 shares during the period. Finally, ING Groep NV grew its stake in Broadridge Financial Solutions by 27.6% in the first quarter. ING Groep NV now owns 5,469 shares of the business services provider’s stock valued at $600,000 after acquiring an additional 1,182 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.

Broadridge Financial Solutions Company Profile (NYSE:BR)

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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