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

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

Other analysts have also issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. DA Davidson reaffirmed a neutral rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a neutral rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Up 0.8 %

Shares of Broadridge Financial Solutions stock opened at $216.84 on Tuesday. The company has a 50-day moving average of $211.78 and a two-hundred day moving average of $204.24. The stock has a market cap of $25.63 billion, a PE ratio of 37.00 and a beta of 1.05. Broadridge Financial Solutions has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.21 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Institutional investors have recently modified their holdings of the business. New England Research & Management Inc. bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $1,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Broadridge Financial Solutions by 108.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after buying an additional 43,710 shares during the last quarter. Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after buying an additional 8,837 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Broadridge Financial Solutions by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after buying an additional 110,886 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Broadridge Financial Solutions by 72.7% during the 1st quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after buying an additional 2,950 shares during the last quarter. 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.