Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Friday, December 15th will be paid a dividend of 0.365 per share by the business services provider on Wednesday, January 3rd. This represents a $1.46 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 14th.
Broadridge Financial Solutions has raised its dividend by an average of 17.9% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Broadridge Financial Solutions has a dividend payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadridge Financial Solutions to earn $4.04 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 36.1%.
Shares of Broadridge Financial Solutions (NYSE BR) opened at $89.25 on Friday. Broadridge Financial Solutions has a twelve month low of $63.28 and a twelve month high of $91.75. The company has a market capitalization of $10,340.00, a P/E ratio of 26.94, a P/E/G ratio of 2.41 and a beta of 0.99. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. equities analysts predict that Broadridge Financial Solutions will post 3.72 EPS for the current fiscal year.
In other news, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Daly sold 94,039 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
A number of equities analysts recently issued reports on BR shares. DA Davidson reiterated a “hold” rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, November 9th. BidaskClub cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Barclays PLC increased their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday.
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Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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