Broadridge Financial Solutions (NYSE:BR) Reaches New 12-Month High – Still a Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $224.12 and last traded at $223.33, with a volume of 87171 shares. The stock had previously closed at $221.51.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BR shares. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Trading Down 0.4 %

The company has a fifty day moving average of $212.54 and a two-hundred day moving average of $205.02. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 37.24 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $3.21 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.88 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

A number of hedge funds have recently added to or reduced their stakes in BR. Claro Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 79.8% in the 3rd quarter. Claro Advisors LLC now owns 1,965 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 872 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Broadridge Financial Solutions by 4.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,723 shares of the business services provider’s stock worth $586,000 after buying an additional 110 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Broadridge Financial Solutions by 16.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,495 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 1,888 shares during the last quarter. nVerses Capital LLC purchased a new stake in Broadridge Financial Solutions during the third quarter valued at about $151,000. Finally, Transform Wealth LLC increased its stake in Broadridge Financial Solutions by 1.6% during the third quarter. Transform Wealth LLC now owns 40,352 shares of the business services provider’s stock worth $8,711,000 after acquiring an additional 618 shares during the last quarter. 90.03% of the stock is 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.