Broadridge Financial Solutions (NYSE:BR) Reaches New 52-Week High – Time to Buy?

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high during trading on Friday . The company traded as high as $237.96 and last traded at $237.74, with a volume of 27289 shares trading hands. The stock had previously closed at $235.91.

Analyst Ratings Changes

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

Broadridge Financial Solutions Stock Performance

The company has a market cap of $27.52 billion, a P/E ratio of 40.73 and a beta of 1.07. The company’s 50-day moving average is $222.41 and its two-hundred day moving average is $211.66. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates 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 for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated 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 transaction, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,066 shares of company stock worth $16,006,777. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BR. American Trust bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $2,233,000. Tidal Investments LLC boosted its position in shares of Broadridge Financial Solutions by 43.7% in the third quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider’s stock valued at $3,290,000 after acquiring an additional 4,654 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $3,530,000. World Investment Advisors LLC boosted its position 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 valued at $909,000 after acquiring an additional 416 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 26.2% in the third quarter. Sanctuary Advisors LLC now owns 18,098 shares of the business services provider’s stock valued at $4,167,000 after acquiring an additional 3,761 shares during the period. Institutional investors own 90.03% of the company’s stock.

About Broadridge Financial Solutions

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.