Broadridge Financial Solutions (NYSE:BR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Broadridge Financial Solutions (NYSE:BR) had its price objective lifted by Royal Bank of Canada from $246.00 to $259.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 7.56% from the company’s current price.

A number of other analysts also recently issued reports on BR. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group initiated coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Up 0.9 %

Shares of NYSE:BR opened at $240.81 on Monday. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $242.03. The stock has a market cap of $28.15 billion, a P/E ratio of 37.68 and a beta of 1.08. The business has a fifty day moving average of $231.46 and a two-hundred day moving average of $220.84. 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 announced 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 net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the business posted $0.92 EPS. On average, research analysts expect that Broadridge Financial Solutions will post 8.55 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction 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. This represents a 56.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’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 transaction of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock valued at $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC raised its position in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the period. Fortitude Family Office LLC raised its holdings in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions in the third quarter worth approximately $38,000. Finally, Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $41,000. 90.03% of the stock is owned by institutional investors and hedge funds.

About Broadridge Financial Solutions

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.