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

DA Davidson reissued their neutral rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note released on Tuesday morning,Benzinga reports. They currently have a $215.00 target price on the business services provider’s stock.

A number of other analysts have also commented on the stock. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley upped their price target 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. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $232.91 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $237.96. The firm’s 50 day moving average price is $229.66 and its two-hundred day moving average price is $218.47. The firm has a market cap of $27.22 billion, a P/E ratio of 40.28 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, analysts forecast that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Insider Buying and Selling at Broadridge Financial Solutions

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

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Bogart Wealth LLC lifted its position in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC lifted its position 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 worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC lifted 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 purchasing an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the third quarter worth about $38,000. Finally, FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the third quarter worth about $39,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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.