Broadridge Financial Solutions (NYSE:BR) Sets New 52-Week High – Should You Buy?

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $238.00 and last traded at $238.00, with a volume of 921 shares traded. The stock had previously closed at $235.80.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BR shares. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $222.43.

Broadridge Financial Solutions Stock Performance

The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $27.53 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05. The firm’s fifty day moving average is $219.51 and its 200 day moving average is $210.20.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $1.09 EPS. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,294 shares of company stock worth $16,944,095. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently modified their holdings of BR. Tidal Investments LLC raised its holdings in Broadridge Financial Solutions by 43.7% in the 3rd quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider’s stock worth $3,290,000 after acquiring an additional 4,654 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $3,530,000. World Investment Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 10.9% in the third quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider’s stock worth $909,000 after purchasing an additional 416 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 26.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,098 shares of the business services provider’s stock worth $4,167,000 after purchasing an additional 3,761 shares during the last quarter. Finally, Unigestion Holding SA lifted its position in shares of Broadridge Financial Solutions by 20.3% during the 3rd quarter. Unigestion Holding SA now owns 5,215 shares of the business services provider’s stock worth $1,121,000 after purchasing an additional 880 shares during the last quarter. 90.03% of the stock is currently 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.