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

StockNews.com lowered shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

BR has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $226.21 on Friday. Broadridge Financial Solutions has a twelve month low of $176.29 and a twelve month high of $228.06. The company has a quick ratio of 1.08, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $26.44 billion, a P/E ratio of 39.14 and a beta of 1.05. The stock’s 50 day moving average is $214.56 and its 200 day moving average is $207.28.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,898 shares of company stock worth $33,293,234 over the last three months. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $38,000. 90.03% of the stock is currently owned by institutional investors.

About Broadridge Financial Solutions

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.