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

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

Several other analysts have also commented on BR. Royal Bank of Canada increased 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 note on Monday, February 3rd. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. 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. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $241.00.

Broadridge Financial Solutions Stock Performance

BR stock opened at $244.70 on Tuesday. The company has a 50-day simple moving average of $237.43 and a 200 day simple moving average of $228.23. The company has a market capitalization of $28.63 billion, a P/E 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 fifty-two week low of $188.30 and a fifty-two week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 last year, the company posted $0.92 earnings per share. Sell-side analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter worth about $34,000. Fortitude Family Office LLC increased its holdings in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $36,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $41,000. Finally, Curio Wealth LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $45,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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.