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

StockNews.com lowered shares of Broadridge Financial Solutions (NYSE:BRFree Report) from a buy rating to a hold rating in a research note issued to investors on Sunday.

BR has been the subject of a number of other research reports. Evercore ISI restated an outperform rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James upped their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an outperform rating in a research note on Friday, February 2nd. DA Davidson reissued a neutral rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $206.67.

View Our Latest Research Report on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Up 1.0 %

Shares of NYSE BR opened at $199.82 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The company has a 50-day moving average price of $199.51 and a 200-day moving average price of $196.54. The stock has a market capitalization of $23.61 billion, a P/E ratio of 34.10 and a beta of 0.98. Broadridge Financial Solutions has a 1 year low of $144.54 and a 1 year high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Broadridge Financial Solutions will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. Insiders sold 25,761 shares of company stock valued at $5,223,959 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in BR. Canada Pension Plan Investment Board grew its position in Broadridge Financial Solutions by 97.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after purchasing an additional 52,171 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Broadridge Financial Solutions by 4.4% during the first quarter. Toronto Dominion Bank now owns 71,093 shares of the business services provider’s stock valued at $14,564,000 after buying an additional 2,989 shares during the last quarter. Capital International Inc. CA increased its position in shares of Broadridge Financial Solutions by 0.8% during the first quarter. Capital International Inc. CA now owns 23,594 shares of the business services provider’s stock valued at $4,833,000 after acquiring an additional 194 shares in the last quarter. Capital International Investors increased its position in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after acquiring an additional 7,970 shares in the last quarter. Finally, Capital Group Private Client Services Inc. raised its holdings in Broadridge Financial Solutions by 1.3% in the 1st quarter. Capital Group Private Client Services Inc. now owns 44,946 shares of the business services provider’s stock worth $9,208,000 after acquiring an additional 584 shares during the last quarter. Hedge funds and other 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.

See Also

Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.