Broadridge Financial Solutions, Inc. (NYSE:BR) Announces $0.88 Quarterly Dividend

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 annualized dividend and a yield of 1.54%.

Broadridge Financial Solutions has raised its dividend payment by an average of 11.0% per year over the last three years and has raised its dividend every year for the last 18 years. Broadridge Financial Solutions has a payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $9.35 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.6%.

Broadridge Financial Solutions Trading Down 0.5 %

BR opened at $227.92 on Friday. The stock has a market capitalization of $26.64 billion, a PE ratio of 39.43 and a beta of 1.05. The firm’s fifty day moving average price is $215.55 and its 200 day moving average price is $207.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions has a 12-month low of $180.16 and a 12-month high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, research analysts expect that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares of the company’s stock, valued at $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 have sold a total of 115,696 shares of company stock valued at $24,782,982 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Morgan Stanley lifted their price objective 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $217.83.

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.