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

StockNews.com lowered shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a report published on Tuesday.

A number of other analysts have also recently commented on BR. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. 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. Finally, Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $213.33.

Broadridge Financial Solutions Stock Down 1.3 %

NYSE:BR opened at $216.79 on Tuesday. The stock’s fifty day moving average price is $211.93 and its two-hundred day moving average price is $204.44. Broadridge Financial Solutions has a 52-week low of $166.73 and a 52-week high of $223.81. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $25.62 billion, a price-to-earnings ratio of 36.99 and a beta of 1.05.

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

Broadridge Financial Solutions Increases Dividend

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

Insiders Place Their Bets

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last quarter. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its position in Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the period. Garrison Asset Management LLC lifted its stake in Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after acquiring an additional 50 shares during the period. Hutchens & Kramer Investment Management Group LLC increased 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 in the last quarter. TIAA Trust National Association increased its holdings in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in Broadridge Financial Solutions by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares in the last quarter. 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.