Broadridge Financial Solutions (BR) Lowered to Hold at ValuEngine
Broadridge Financial Solutions (NYSE:BR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other equities analysts have also recently weighed in on BR. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective for the company. Barclays increased their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, BidaskClub cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th.
Shares of Broadridge Financial Solutions (NYSE:BR) traded down $0.13 during midday trading on Friday, hitting $90.13. 498,340 shares of the stock were exchanged, compared to its average volume of 632,969. The firm has a market cap of $10,504.83, a P/E ratio of 27.07, a P/E/G ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70. Broadridge Financial Solutions has a fifty-two week low of $63.28 and a fifty-two week high of $91.75.
In related news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of BR. Bank of Montreal Can boosted its position in Broadridge Financial Solutions by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 29,524 shares of the business services provider’s stock valued at $2,231,000 after buying an additional 1,204 shares during the period. Harbour Capital Advisors LLC boosted its position in Broadridge Financial Solutions by 7,456.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 36,269 shares of the business services provider’s stock valued at $480,000 after buying an additional 35,789 shares during the period. World Asset Management Inc boosted its position in Broadridge Financial Solutions by 1.0% in the 2nd quarter. World Asset Management Inc now owns 8,919 shares of the business services provider’s stock valued at $674,000 after buying an additional 91 shares during the period. Stratos Wealth Partners LTD. boosted its position in Broadridge Financial Solutions by 19.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,141 shares of the business services provider’s stock valued at $540,000 after buying an additional 1,176 shares during the period. Finally, Korea Investment CORP purchased a new position in Broadridge Financial Solutions in the 2nd quarter valued at approximately $1,473,000. 83.52% of the stock is owned by 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’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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.