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 released on Tuesday,Benzinga reports. The brokerage currently has a $215.00 target price on the business services provider’s stock.

Several other research analysts have also recently commented on the stock. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $232.91 on Tuesday. Broadridge Financial Solutions has a 12 month low of $188.30 and a 12 month high of $237.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $27.22 billion, a P/E ratio of 40.28 and a beta of 1.08. The company’s fifty day moving average price is $229.66 and its two-hundred day moving average price is $218.47.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. On average, research analysts anticipate that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC grew its position in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the period. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC grew its holdings 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 valued at $35,000 after purchasing an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new position in Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

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.