Broadridge Financial Solutions Inc. (NYSE:BR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. “

Several other analysts also recently weighed in on the company. Barclays PLC raised their target price on Broadridge Financial Solutions from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 10th. Atlantic Securities initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, September 13th. They set an “overweight” rating and a $82.00 target price for the company. Avondale Partners downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research note on Wednesday, June 15th. Finally, Raymond James Financial Inc. downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.25.

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Broadridge Financial Solutions (NYSE:BR) traded up 0.19% during trading on Tuesday, reaching $68.72. The company’s stock had a trading volume of 446,738 shares. The firm has a 50 day moving average of $68.81 and a 200 day moving average of $63.78. Broadridge Financial Solutions has a 52 week low of $48.56 and a 52 week high of $71.74. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 27.16 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share for the quarter, meeting the consensus estimate of $1.45. The company earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. Analysts expect that Broadridge Financial Solutions will post $3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 15th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.92%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, September 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.17%.

In other Broadridge Financial Solutions news, insider Robert F. Kalenka sold 53,818 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $68.96, for a total value of $3,711,289.28. Following the transaction, the insider now owns 52,447 shares of the company’s stock, valued at $3,616,745.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schifellite sold 9,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $69.30, for a total transaction of $623,700.00. Following the completion of the transaction, the insider now directly owns 82,937 shares in the company, valued at approximately $5,747,534.10. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock worth $103,000 after buying an additional 176 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Broadridge Financial Solutions by 64.5% in the first quarter. IFP Advisors Inc now owns 2,254 shares of the company’s stock worth $134,000 after buying an additional 884 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock worth $139,000 after buying an additional 1,450 shares in the last quarter. Capital Guardian Trust Co. boosted its position in shares of Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock worth $165,000 after buying an additional 299 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth about $173,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.

5 Day Chart for NYSE:BR

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