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

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

A number of other analysts have also recently weighed in on BR. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $241.00.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $244.70 on Tuesday. Broadridge Financial Solutions has a 12 month low of $188.30 and a 12 month high of $246.58. The company has a market cap of $28.63 billion, a P/E ratio of 38.29 and a beta of 1.05. The business’s 50 day moving average is $237.43 and its two-hundred day moving average is $228.23. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $0.92 EPS. On average, equities analysts expect that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $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 sold 124,754 shares of company stock valued at $29,397,793 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in BR. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $34,000. Fortitude Family Office LLC grew its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $36,000. Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $41,000. Finally, Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. 90.03% of the stock is 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.