Broadridge Financial Solutions (NYSE:BR) Rating Lowered to “Hold” at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

BR has been the topic of a number of other research reports. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. UBS Group raised their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Trading Down 5.8 %

BR opened at $228.33 on Wednesday. Broadridge Financial Solutions has a one year low of $188.30 and a one year high of $247.01. The company has a market cap of $26.72 billion, a P/E ratio of 35.73 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50-day simple moving average is $234.55 and its 200-day simple moving average is $231.13.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business posted $2.23 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last three months. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $29,000. Whipplewood Advisors LLC increased its position in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after buying an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC increased its position in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after buying an additional 46 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.