BidaskClub Downgrades Broadridge Financial Solutions, Inc. (NYSE:BR) to Buy
Broadridge Financial Solutions, Inc. (NYSE:BR) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Separately, Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.00.
Broadridge Financial Solutions (NYSE BR) traded up 0.85% on Friday, reaching $75.12. 179,240 shares of the company traded hands. Broadridge Financial Solutions has a one year low of $59.86 and a one year high of $78.00. The stock has a market capitalization of $8.83 billion, a PE ratio of 29.42 and a beta of 1.00. The firm has a 50 day moving average of $74.93 and a 200-day moving average of $69.54.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 10th. The business services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.10. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $997.65 million. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue was up 46.4% on a year-over-year basis. On average, analysts anticipate that Broadridge Financial Solutions will post $3.14 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 51.56%.
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In other news, VP Laura Matlin sold 630 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $71.89, for a total transaction of $45,290.70. Following the completion of the transaction, the vice president now owns 5,271 shares in the company, valued at approximately $378,932.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schifellite sold 5,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $72.83, for a total value of $364,150.00. Following the transaction, the insider now owns 79,167 shares of the company’s stock, valued at approximately $5,765,732.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 323,032 shares of company stock worth $24,016,648. 3.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bath Savings Trust Co increased its position in shares of Broadridge Financial Solutions by 1.2% in the second quarter. Bath Savings Trust Co now owns 94,800 shares of the business services provider’s stock valued at $7,163,000 after buying an additional 1,082 shares in the last quarter. Pensionfund Sabic acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $1,511,000. Pensionfund DSM Netherlands acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $3,098,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Broadridge Financial Solutions by 3.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 14,120 shares of the business services provider’s stock worth $959,000 after buying an additional 500 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Broadridge Financial Solutions by 20.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 5,235 shares of the business services provider’s stock worth $356,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.
About Broadridge Financial Solutions
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’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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