JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Broadridge Financial Solutions (NYSE:BR) Stock

Broadridge Financial Solutions (NYSE:BR) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $231.00 to $249.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.40% from the stock’s current price.

A number of other research firms also recently weighed in on BR. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley raised their price objective 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. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday. DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 0.9 %

Shares of NYSE:BR opened at $240.81 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. Broadridge Financial Solutions has a 1 year low of $188.30 and a 1 year high of $242.03. The company has a market cap of $28.15 billion, a P/E ratio of 37.68 and a beta of 1.08. The stock’s fifty day moving average price is $231.46 and its 200-day moving average price is $220.84.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) 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 company posted $0.92 EPS. Sell-side analysts expect that Broadridge Financial Solutions will post 8.55 earnings per share for the current year.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction 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 sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. 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 Broadridge Financial Solutions stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors have recently bought and sold shares of BR. Lake Street Advisors Group LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $233,000. MorganRosel Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 23.4% in the fourth quarter. MorganRosel Wealth Management LLC now owns 3,398 shares of the business services provider’s stock worth $768,000 after purchasing an additional 645 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Broadridge Financial Solutions by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 896,718 shares of the business services provider’s stock valued at $202,739,000 after buying an additional 20,694 shares during the last quarter. CWS Financial Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 54.6% in the fourth quarter. CWS Financial Advisors LLC now owns 1,911 shares of the business services provider’s stock worth $432,000 after buying an additional 675 shares during the period. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $206,000. 90.03% of the stock is currently owned by institutional investors.

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.