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

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Thursday, March 13th will be paid a dividend of 0.88 per share by the business services provider on Thursday, April 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%.

Broadridge Financial Solutions has raised its dividend by an average of 11.4% per year over the last three years and has increased its dividend every year for the last 17 years. Broadridge Financial Solutions has a payout ratio of 37.6% 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 Price Performance

BR traded up $1.77 during trading on Tuesday, hitting $240.42. The company’s stock had a trading volume of 93,217 shares, compared to its average volume of 475,892. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $241.45. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The business’s fifty day simple moving average is $231.37 and its 200 day simple moving average is $220.56.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions will post 8.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BR shares. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday. DA Davidson restated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% 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.