Broadridge Financial Solutions (NYSE:BR) Rating Lowered to Hold at StockNews.com

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

A number of other brokerages have also recently weighed in on BR. DA Davidson reissued a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Evercore ISI reissued an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of NYSE BR opened at $195.13 on Friday. Broadridge Financial Solutions has a 52 week low of $156.26 and a 52 week high of $210.24. The business has a 50-day simple moving average of $197.87 and a two-hundred day simple moving average of $199.49. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a market cap of $23.06 billion, a P/E ratio of 33.30 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of BR. Stifel Financial Corp boosted its stake in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after buying an additional 1,456,847 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Broadridge Financial Solutions during the 1st quarter worth $144,033,000. Envestnet Asset Management Inc. lifted its stake in Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after acquiring an additional 381,882 shares during the period. APG Asset Management US Inc. purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth about $70,498,000. Finally, Norges Bank purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth about $67,605,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

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.