Broadridge Financial Solutions, Inc. (BR) Receives Consensus Rating of “Hold” from Brokerages
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $75.00.
Several brokerages have issued reports on BR. DA Davidson began coverage on Broadridge Financial Solutions in a research report on Monday. They set a “neutral” rating on the stock. BidaskClub cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Monday, April 10th.
Shares of Broadridge Financial Solutions (NYSE:BR) traded down 0.08% on Monday, reaching $75.60. The company’s stock had a trading volume of 322,701 shares. The firm has a 50-day moving average price of $75.52 and a 200 day moving average price of $71.08. The firm has a market capitalization of $8.89 billion, a PE ratio of 29.61 and a beta of 0.99. Broadridge Financial Solutions has a one year low of $59.86 and a one year high of $78.00.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $997.65 million. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, analysts anticipate that Broadridge Financial Solutions will post $3.12 earnings per share for the current fiscal year.
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 sale, the vice president now owns 5,271 shares in the company, valued at approximately $378,932.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Schifellite sold 5,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $72.83, for a total value of $364,150.00. Following the sale, 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. In the last quarter, insiders have sold 323,032 shares of company stock valued at $24,016,648. Company insiders own 3.50% of the company’s stock.
Several hedge funds have recently modified their holdings of BR. Macquarie Group Ltd. raised its stake in shares of Broadridge Financial Solutions by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 65,476 shares of the business services provider’s stock valued at $4,342,000 after buying an additional 7,200 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after buying an additional 2,092 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Broadridge Financial Solutions by 2.6% in the second quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock valued at $75,115,000 after buying an additional 25,421 shares in the last quarter. Morgan Stanley raised its stake in shares of Broadridge Financial Solutions by 47.0% in the first quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock valued at $30,878,000 after buying an additional 145,274 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its stake in shares of Broadridge Financial Solutions by 4.1% in the first quarter. Boston Financial Mangement LLC now owns 137,643 shares of the business services provider’s stock valued at $9,353,000 after buying an additional 5,475 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
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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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