Broadridge Financial Solutions (NYSE:BR) Downgraded by StockNews.com to “Hold”

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

Other analysts also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Up 1.9 %

BR stock opened at $225.36 on Friday. Broadridge Financial Solutions has a 52 week low of $175.21 and a 52 week high of $226.16. The business has a 50-day simple moving average of $214.29 and a 200 day simple moving average of $206.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market cap of $26.34 billion, a PE ratio of 38.46 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,898 shares of company stock valued at $33,293,234. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC lifted its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Family Firm Inc. bought a new stake in Broadridge Financial Solutions in the second quarter valued at $37,000. 90.03% of the stock is 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.