Broadridge Financial Solutions Inc. (BR) Stock Rating Upgraded by Zacks Investment Research
Broadridge Financial Solutions Inc. (NYSE:BR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
A number of other equities analysts have also recently issued reports on the company. Sandler O’Neill cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Thursday, September 29th. Barclays PLC increased their target price on Broadridge Financial Solutions from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Atlantic Securities assumed coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They set an “overweight” rating and a $82.00 target price for the company. Finally, Avondale Partners cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a report on Wednesday, June 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $72.60.
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Broadridge Financial Solutions (NYSE:BR) traded down 2.25% during trading on Tuesday, hitting $65.11. 993,210 shares of the stock were exchanged. The firm’s 50 day moving average price is $68.88 and its 200-day moving average price is $65.02. Broadridge Financial Solutions has a 1-year low of $48.56 and a 1-year high of $71.74. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 25.74 and a beta of 1.04.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.45. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. The firm earned $975 million during the quarter, compared to analysts’ expectations of $991.13 million. During the same period in the prior year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions will post $3.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.32 annualized dividend and a yield of 2.03%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. 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 stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $68.96, for a total value of $3,711,289.28. Following the completion of the sale, the insider now owns 52,447 shares in the company, valued at approximately $3,616,745.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard J. Daly sold 244,935 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $69.36, for a total value of $16,988,691.60. Following the completion of the sale, the insider now owns 226,507 shares of the company’s stock, valued at approximately $15,710,525.52. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in 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 valued at $103,000 after buying an additional 176 shares during the period. IFP Advisors Inc boosted its stake in Broadridge Financial Solutions by 64.5% in the first quarter. IFP Advisors Inc now owns 2,254 shares of the company’s stock valued at $134,000 after buying an additional 884 shares during the period. Integrated Investment Consultants LLC boosted its stake in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock valued at $139,000 after buying an additional 1,450 shares during the period. Capital Guardian Trust Co. boosted its stake in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock valued at $165,000 after buying an additional 299 shares during the period. Finally, Strs Ohio acquired a new stake in Broadridge Financial Solutions during the second quarter valued at $173,000. Institutional investors and hedge funds own 87.39% of the company’s stock.
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.
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