Broadridge Financial Solutions (NYSE:BR) Given Neutral Rating at DA Davidson

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “neutral” rating restated by investment analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $215.00 price objective on the business services provider’s stock. DA Davidson’s price target suggests a potential downside of 8.52% from the company’s previous close.

Several other research analysts have also commented on BR. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group assumed coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Stock Up 0.6 %

Broadridge Financial Solutions stock opened at $235.02 on Tuesday. The company has a market capitalization of $27.47 billion, a PE ratio of 40.66 and a beta of 1.08. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The firm has a 50 day moving average price of $229.78 and a 200 day moving average price of $218.59.

Broadridge Financial Solutions (NYSE:BR) last issued 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 return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock valued at $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BR. State Street Corp lifted its stake in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after buying an additional 51,439 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after acquiring an additional 15,208 shares during the period. Stifel Financial Corp raised its position in Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after purchasing an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after purchasing an additional 20,775 shares during the period. Finally, abrdn plc grew its position in Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after purchasing an additional 27,869 shares during 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.