Broadridge Financial Solutions’ (BR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $239.00 target price on the business services provider’s stock.

A number of other research analysts have also recently commented on BR. StockNews.com cut Broadridge Financial Solutions from a buy rating to a hold rating in a research note on Friday, June 14th. DA Davidson reaffirmed a neutral rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, Evercore ISI reissued an outperform rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Down 1.1 %

Shares of NYSE:BR opened at $197.00 on Friday. Broadridge Financial Solutions has a 52-week low of $161.33 and a 52-week high of $210.24. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The business has a fifty day moving average of $198.10 and a two-hundred day moving average of $200.00. The stock has a market cap of $23.28 billion, a P/E ratio of 33.62 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, research analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.62%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in Broadridge Financial Solutions by 680.1% in the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after acquiring an additional 74,387 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $227,750,000. Bank of Nova Scotia increased its position in Broadridge Financial Solutions by 642.3% during the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after buying an additional 70,263 shares during the period. Crown Oak Advisors LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $7,032,000. Finally, UBS Group AG boosted its holdings in shares of Broadridge Financial Solutions by 8.2% in the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after acquiring an additional 14,147 shares during the period. Institutional investors and hedge funds 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.