Broadridge Financial Solutions (NYSE:BR) Downgraded to “Hold” Rating by StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

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

Broadridge Financial Solutions Price Performance

Shares of BR opened at $225.36 on Friday. The business’s fifty day moving average is $214.29 and its 200 day moving average is $206.90. Broadridge Financial Solutions has a 12-month low of $175.21 and a 12-month high of $226.16. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market cap of $26.34 billion, a P/E ratio of 38.46 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Christopher John Perry sold 31,539 shares of the business’s 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 transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was 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. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at $43,190,909.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 31,539 shares of the company’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 directly owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,898 shares of company stock valued at $33,293,234. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several large investors have recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at $44,746,000. Assenagon Asset Management S.A. grew its holdings in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after buying an additional 198,169 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $274,650,000. Earnest Partners LLC increased its position in shares of 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 buying an additional 75,006 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

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.