Broadridge Financial Solutions (NYSE:BR) Shares Gap Down – Here’s What Happened

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $239.12, but opened at $231.03. Broadridge Financial Solutions shares last traded at $236.05, with a volume of 25,592 shares trading hands.

Analyst Ratings Changes

BR has been the topic of a number of research reports. UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of 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. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Price Performance

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average of $231.26 and a 200 day moving average of $220.24. The firm has a market capitalization of $27.88 billion, a PE ratio of 41.26 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insider Activity

In related news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock valued at $12,264,846 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Large investors have recently bought and sold shares of the company. Qsemble Capital Management LP bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $1,412,000. Atria Investments Inc lifted its holdings in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new position in Broadridge Financial Solutions during the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in shares of Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the period. 90.03% of the stock is owned by hedge funds and other 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.