Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $152.00

Share on StockTwits

Broadridge Financial Solutions (NYSE:BR) had its price objective raised by JPMorgan Chase & Co. from $142.00 to $152.00 in a research report report published on Monday, The Fly reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other analysts have also recently commented on the stock. DA Davidson cut shares of Broadridge Financial Solutions from a buy rating to a neutral rating and set a $138.00 price target for the company. in a research note on Wednesday, August 5th. They noted that the move was a valuation call. BTIG Research cut shares of Broadridge Financial Solutions from a buy rating to a neutral rating in a research note on Tuesday, August 11th. Rosenblatt Securities raised their target price on shares of Broadridge Financial Solutions from $112.00 to $127.00 and gave the stock a neutral rating in a research note on Wednesday, August 12th. Finally, Raymond James raised their target price on shares of Broadridge Financial Solutions from $126.00 to $140.00 and gave the stock an outperform rating in a research note on Friday, July 24th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $136.67.

Shares of BR opened at $137.30 on Monday. Broadridge Financial Solutions has a 12 month low of $81.90 and a 12 month high of $144.50. The firm has a fifty day simple moving average of $132.21 and a 200 day simple moving average of $117.43. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 34.58 and a beta of 0.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 11th. The business services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.06. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Broadridge Financial Solutions had a net margin of 10.21% and a return on equity of 48.87%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions will post 5.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, September 14th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.54. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 42.94%.

In related news, CFO James M. Young sold 42,707 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $138.91, for a total transaction of $5,932,429.37. Following the transaction, the chief financial officer now directly owns 49,060 shares of the company’s stock, valued at $6,814,924.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert Schifellite sold 26,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.64, for a total transaction of $3,292,640.00. Following the transaction, the senior vice president now directly owns 72,445 shares in the company, valued at $9,174,434.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,942 shares of company stock valued at $15,336,293. 2.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Broadridge Financial Solutions by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 533,518 shares of the business services provider’s stock worth $67,325,000 after acquiring an additional 5,911 shares during the period. Advisors Capital Management LLC increased its holdings in Broadridge Financial Solutions by 40.5% in the 2nd quarter. Advisors Capital Management LLC now owns 27,208 shares of the business services provider’s stock valued at $3,433,000 after buying an additional 7,836 shares during the period. California State Teachers Retirement System increased its holdings in Broadridge Financial Solutions by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 205,373 shares of the business services provider’s stock valued at $25,916,000 after buying an additional 3,270 shares during the period. Great West Life Assurance Co. Can increased its holdings in Broadridge Financial Solutions by 3.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 149,346 shares of the business services provider’s stock valued at $18,791,000 after buying an additional 4,313 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in Broadridge Financial Solutions by 22.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 69,725 shares of the business services provider’s stock valued at $8,799,000 after buying an additional 12,666 shares during the period. 85.13% of the stock is currently 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 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.

See Also: How does a dividend reinvestment plan work?

The Fly

Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply