Several other equities analysts also recently commented on the stock. Raymond James raised shares of Broadridge Financial Solutions from a market perform rating to an outperform rating and set a $118.00 target price on the stock in a research report on Wednesday, March 13th. DA Davidson downgraded shares of Broadridge Financial Solutions from a buy rating to a neutral rating and set a $128.00 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. SunTrust Banks raised their price target on Broadridge Financial Solutions to $130.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research raised Broadridge Financial Solutions from a hold rating to a buy rating and set a $122.00 price target on the stock in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $124.50.
Broadridge Financial Solutions stock traded down $0.79 during mid-day trading on Friday, hitting $121.64. 640,893 shares of the company’s stock were exchanged, compared to its average volume of 843,166. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.63 and a beta of 0.88. Broadridge Financial Solutions has a 1-year low of $91.34 and a 1-year high of $138.24.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.
In related news, VP Douglas Richard Deschutter sold 13,167 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $122.50, for a total value of $1,612,957.50. Following the completion of the sale, the vice president now owns 103,849 shares in the company, valued at $12,721,502.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan J. Weber sold 1,980 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the completion of the sale, the director now owns 51,588 shares of the company’s stock, valued at approximately $5,177,371.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,055 shares of company stock worth $7,047,889. 2.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Broadridge Financial Solutions by 586.4% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 134,740 shares of the business services provider’s stock valued at $13,971,000 after buying an additional 115,109 shares during the period. CX Institutional bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Nuveen Asset Management LLC lifted its stake in Broadridge Financial Solutions by 21.4% during the fourth quarter. Nuveen Asset Management LLC now owns 243,934 shares of the business services provider’s stock worth $23,479,000 after purchasing an additional 43,023 shares during the period. Eukles Asset Management bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $241,000. Finally, EFG Asset Management Americas Corp. lifted its stake in Broadridge Financial Solutions by 26.8% during the first quarter. EFG Asset Management Americas Corp. now owns 42,523 shares of the business services provider’s stock worth $4,409,000 after purchasing an additional 8,994 shares during the period. Institutional investors and hedge funds own 84.80% 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 worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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