Broadridge Financial Solutions (NYSE:BR) Cut to Hold at StockNews.com

StockNews.com cut shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other equities research analysts have also commented on BR. DA Davidson restated a neutral rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $213.33.

Broadridge Financial Solutions Stock Down 1.3 %

BR opened at $216.79 on Tuesday. Broadridge Financial Solutions has a one year low of $166.73 and a one year high of $223.81. The company has a market cap of $25.62 billion, a price-to-earnings ratio of 36.99 and a beta of 1.05. The business’s fifty day moving average is $211.93 and its two-hundred day moving average is $204.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.21 earnings per share. Analysts anticipate that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock valued at $28,112,824 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth about $144,033,000. Vanguard Group Inc. increased its stake in Broadridge Financial Solutions by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after acquiring an additional 110,886 shares during the period. Goldman Sachs Group Inc. increased its stake in Broadridge Financial Solutions by 22.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock valued at $97,120,000 after acquiring an additional 86,853 shares during the period. Earnest Partners LLC increased its stake in Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock valued at $74,609,000 after acquiring an additional 75,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after acquiring an additional 72,018 shares during the period. 90.03% of the stock is currently owned by institutional investors.

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.