Broadridge Financial Solutions said on May 10, 2023 that its board of directors declared a regular quarterly dividend of $0.72 per share ($2.90 annualized). Previously, the company paid $0.72 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 6, 2023.
At the current share price of $154.85 / share, the stock's dividend yield is 1.87%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.69%, the lowest has been 1.23%, and the highest has been 2.56%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 0.77 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.34%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 1452 funds or institutions reporting positions in Broadridge Financial Solutions. This is an increase of 13 owner(s) or 0.90% in the last quarter. Average portfolio weight of all funds dedicated to BR is 0.31%, an increase of 20.77%. Total shares owned by institutions increased in the last three months by 2.23% to 118,838K shares. The put/call ratio of BR is 0.56, indicating a bullish outlook.
Analyst Price Forecast Suggests 6.71% Upside
As of May 11, 2023, the average one-year price target for Broadridge Financial Solutions is 165.24. The forecasts range from a low of 141.40 to a high of $192.15. The average price target represents an increase of 6.71% from its latest reported closing price of 154.85.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Broadridge Financial Solutions is 6,323MM, an increase of 6.36%. The projected annual non-GAAP EPS is 7.18.
What are Other Shareholders Doing?
APG Asset Management N.V. holds 3,875K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 3,807K shares, representing an increase of 1.75%. The firm decreased its portfolio allocation in BR by 31.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,575K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 3,500K shares, representing an increase of 2.10%. The firm decreased its portfolio allocation in BR by 12.33% over the last quarter.
Price T Rowe Associates holds 3,391K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 3,366K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in BR by 8.11% over the last quarter.
Baillie Gifford holds 3,163K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 3,409K shares, representing a decrease of 7.79%. The firm decreased its portfolio allocation in BR by 67.24% over the last quarter.
Janus Henderson Group holds 3,149K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 3,111K shares, representing an increase of 1.22%. The firm decreased its portfolio allocation in BR by 10.29% over the last quarter.
Broadridge Financial Solutions Background Information
(This description is provided by the company.)
Broadridge Financial Solutions, a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. Broadridge delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.