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 report issued on Friday morning.

Other research analysts have also issued reports about the company. DA Davidson reissued a neutral rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Evercore ISI reiterated an outperform rating and issued 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 MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $206.67.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of Broadridge Financial Solutions stock opened at $195.13 on Friday. The stock has a market cap of $23.06 billion, a P/E ratio of 33.30 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 12-month low of $156.26 and a 12-month high of $210.24. The business’s 50 day moving average is $197.87 and its 200-day moving average is $199.55.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (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 firm 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 company posted $2.05 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the 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 owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the firm’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 approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of large investors have recently modified their holdings of BR. Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of Broadridge Financial Solutions by 4.5% during the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 51 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after buying an additional 52 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after buying an additional 52 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after buying an additional 52 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock valued at $324,000 after acquiring an additional 55 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.