Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $222.00 at Morgan Stanley

Broadridge Financial Solutions (NYSE:BR) had its target price upped by Morgan Stanley from $207.00 to $222.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Several other analysts have also recently commented on the stock. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $240.11 on Monday. The company’s fifty day moving average is $231.55 and its two-hundred day moving average is $220.97. The company has a market cap of $28.07 billion, a P/E ratio of 37.58 and a beta of 1.08. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $242.39. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the business earned $0.92 EPS. Equities analysts expect that Broadridge Financial Solutions will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Insider Buying and Selling

In related news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,861 shares of company stock worth $7,063,250. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Broadridge Financial Solutions during the third quarter valued at about $44,746,000. Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the period. Benjamin Edwards Inc. grew its holdings in Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after buying an additional 140,886 shares during the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $274,650,000. Finally, Proficio Capital Partners LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth approximately $25,773,000. 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.