Broadridge Financial Solutions (NYSE:BR) Earns “Outperform” Rating from Evercore ISI

Evercore ISI reaffirmed their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note published on Tuesday, Benzinga reports. Evercore ISI currently has a $230.00 target price on the business services provider’s stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an equal weight rating in a report on Friday, December 8th. StockNews.com raised shares of Broadridge Financial Solutions from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a report on Friday, February 2nd. Finally, Raymond James upped their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $203.17.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $204.86 on Tuesday. Broadridge Financial Solutions has a 12-month low of $139.35 and a 12-month high of $210.24. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 35.69 and a beta of 0.99. The company’s 50-day moving average is $201.97 and its two-hundred day moving average is $192.28. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Research analysts expect that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 over the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently modified their holdings of the stock. Procyon Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 2.3% in the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after buying an additional 52 shares during the period. New York Life Investment Management LLC raised its holdings in shares of Broadridge Financial Solutions by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after acquiring an additional 52 shares in the last quarter. Optas LLC grew its stake in shares of Broadridge Financial Solutions by 3.8% in the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after buying an additional 57 shares in the last quarter. Signaturefd LLC grew its position in Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after acquiring an additional 58 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

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.