A number of other research firms have also recently issued reports on BR. Barclays raised their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an equal weight rating in a research report on Thursday, November 9th. ValuEngine cut Broadridge Financial Solutions from a buy rating to a hold rating in a report on Friday. DA Davidson started coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They set a neutral rating and a $74.00 price target for the company. Finally, BidaskClub raised Broadridge Financial Solutions from a sell rating to a hold rating in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average price target of $85.50.
Broadridge Financial Solutions (BR) traded up $0.04 on Monday, hitting $90.17. The stock had a trading volume of 503,500 shares, compared to its average volume of 465,329. Broadridge Financial Solutions has a 52 week low of $63.55 and a 52 week high of $91.75. The firm has a market capitalization of $10,504.88, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a $0.365 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.46 annualized dividend and a yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio is presently 50.87%.
In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BR. ETF Managers Group LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $144,000. Acrospire Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $108,000. Toronto Dominion Bank increased its stake in shares of Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. 83.54% of the stock is owned by hedge funds and other institutional investors.
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About Broadridge Financial Solutions
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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