Broadridge Financial Solutions (NYSE:BR) Receives “Neutral” Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note published on Wednesday, Benzinga reports. DA Davidson currently has a $185.00 price target on the business services provider’s stock.

A number of other research analysts have also weighed in on BR. StockNews.com lowered Broadridge Financial Solutions from a buy rating to a hold rating in a report on Wednesday, March 27th. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a report on Friday, February 2nd. Raymond James boosted their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Finally, Evercore ISI restated an outperform rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $206.67.

Broadridge Financial Solutions Trading Down 1.8 %

Shares of BR opened at $203.57 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $23.97 billion, a P/E ratio of 35.47 and a beta of 0.99. Broadridge Financial Solutions has a fifty-two week low of $139.52 and a fifty-two week high of $210.24. The business has a 50-day moving average of $201.29 and a 200 day moving average of $193.38.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, research analysts forecast that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.57%. Broadridge Financial Solutions’s payout ratio is currently 55.75%.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,483 shares of company stock valued at $9,745,637. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Procyon Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 52 shares in the last quarter. New York Life Investment Management LLC boosted its position in Broadridge Financial Solutions by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after purchasing an additional 52 shares during the last quarter. Optas LLC boosted its position in Broadridge Financial Solutions by 3.8% in the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after purchasing an additional 57 shares during the last quarter. Signaturefd LLC boosted its position in Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after purchasing an additional 58 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Company Profile

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.