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

by · The Markets Daily

StockNews.com cut shares of Broadridge Financial Solutions (NYSE:BR – Free Report) from a buy rating to a hold rating in a research note released on Tuesday.

A number of other research firms also recently weighed in on BR. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. UBS Group raised their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $241.00.

Get Our Latest Analysis on BR

Broadridge Financial Solutions Trading Down 2.6 %

NYSE BR opened at $239.80 on Tuesday. The stock has a market cap of $28.06 billion, a P/E ratio of 37.53 and a beta of 1.06. The company’s fifty day simple moving average is $237.72 and its 200-day simple moving average is $228.44. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 52 week low of $188.30 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.92 EPS. Equities research analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Insider Buying and Selling

In related news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 over the last quarter. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently made changes to their positions in BR. Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions in the fourth quarter worth about $34,000. Fortitude Family Office LLC raised its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $36,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $41,000. Finally, Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. Institutional investors own 90.03% of the company’s stock.

About Broadridge Financial Solutions

(Get Free Report)

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.

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