Broadridge Financial Solutions, Inc. (BR) to Issue Quarterly Dividend of $0.88 on January 3rd

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.88 per share by the business services provider on Friday, January 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th.

Broadridge Financial Solutions has increased its dividend payment by an average of 11.0% annually over the last three years and has raised its dividend every year for the last 18 years. Broadridge Financial Solutions has a dividend payout ratio of 41.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Broadridge Financial Solutions to earn $9.34 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.7%.

Broadridge Financial Solutions Stock Performance

BR stock opened at $235.90 on Wednesday. The firm has a 50 day simple moving average of $223.21 and a 200 day simple moving average of $212.19. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a 52 week low of $188.30 and a 52 week high of $237.96. The stock has a market cap of $27.57 billion, a P/E ratio of 40.81 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. DA Davidson lifted their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $226.71.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock valued at $12,264,846 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company Profile

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.