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

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Tuesday, February 4th,RTT News reports. Shareholders of record on Thursday, March 13th will be given a dividend of 0.88 per share by the business services provider on Thursday, April 3rd. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, March 13th.

Broadridge Financial Solutions has increased its dividend by an average of 11.4% annually over the last three years and has increased its dividend every year for the last 17 years. Broadridge Financial Solutions has a payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadridge Financial Solutions to earn $9.35 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 37.6%.

Broadridge Financial Solutions Price Performance

BR opened at $240.11 on Thursday. The stock has a fifty day simple moving average of $231.55 and a two-hundred day simple moving average of $220.97. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.07 billion, a price-to-earnings ratio of 37.58 and a beta of 1.08. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $242.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business earned $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions will post 8.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BR. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley raised their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $239.17.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the business’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 value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,861 shares of company stock valued at $7,063,250 in the last quarter. 1.30% of the stock is currently owned by insiders.

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.