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

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

A number of other research analysts have also commented on BR. Royal Bank of Canada boosted their price target 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. JPMorgan Chase & Co. boosted their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $213.33.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of BR stock opened at $216.36 on Thursday. The company’s fifty day simple moving average is $213.06 and its two-hundred day simple moving average is $205.51. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions has a 1 year low of $166.73 and a 1 year high of $224.32. The stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 36.92 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.21 EPS. As a group, analysts anticipate that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Broadridge Financial Solutions by 87.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,985 shares of the business services provider’s stock worth $3,177,000 after buying an additional 7,006 shares in the last quarter. Lyell Wealth Management LP purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $4,224,000. Ballentine Partners LLC grew its holdings in Broadridge Financial Solutions by 4.1% in the third quarter. Ballentine Partners LLC now owns 1,628 shares of the business services provider’s stock worth $350,000 after purchasing an additional 64 shares during the period. Moody Lynn & Lieberson LLC purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $599,000. Finally, Cross Staff Investments Inc purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $215,000. 90.03% of the stock is owned by institutional investors.

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.