StockNews.com Downgrades Broadridge Financial Solutions (NYSE:BR) to Hold

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

A number of other equities research analysts also recently commented on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $2.24 during midday trading on Tuesday, hitting $244.70. The company had a trading volume of 658,681 shares, compared to its average volume of 512,637. The company has a fifty day simple moving average of $237.43 and a 200 day simple moving average of $228.23. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 38.29 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In other news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently made changes to their positions in BR. D.A. Davidson & CO. acquired a new position in Broadridge Financial Solutions in the 3rd quarter valued at $212,000. FMR LLC grew its holdings in shares of Broadridge Financial Solutions by 9.7% during the third quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock worth $17,244,000 after buying an additional 7,077 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Broadridge Financial Solutions by 3.3% during the third quarter. Glenmede Trust Co. NA now owns 4,419 shares of the business services provider’s stock worth $950,000 after acquiring an additional 143 shares during the last quarter. CreativeOne Wealth LLC grew its position in shares of Broadridge Financial Solutions by 5.5% in the third quarter. CreativeOne Wealth LLC now owns 1,548 shares of the business services provider’s stock valued at $333,000 after purchasing an additional 81 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Broadridge Financial Solutions by 4.3% in the third quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider’s stock valued at $1,041,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.