Broadridge Financial Solutions (NYSE:BR) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research note issued to investors on Saturday.

BR has been the subject of several other research reports. Royal Bank of Canada reiterated an outperform rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Evercore ISI reissued an outperform rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, DA Davidson restated a neutral rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of Hold and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

BR stock opened at $205.55 on Friday. The firm has a market cap of $24.29 billion, a P/E ratio of 35.08 and a beta of 1.04. The firm’s fifty day moving average is $200.48 and its 200 day moving average is $200.44. Broadridge Financial Solutions has a 52 week low of $164.99 and a 52 week high of $211.68. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now directly 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. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LifeSteps Financial Inc. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter worth $32,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $34,000. Manchester Capital Management LLC boosted its stake in Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth $34,000. Finally, BKM Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $37,000. 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.