Broadridge Financial Solutions (NYSE:BR) Reaches New 1-Year Low – Here’s What Happened

Broadridge Financial Solutions, Inc. (NYSE:BR)’s share price reached a new 52-week low on Friday . The company traded as low as $202.00 and last traded at $202.00, with a volume of 710 shares traded. The stock had previously closed at $226.61.

Wall Street Analyst Weigh In

BR has been the subject of several recent analyst reports. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson reissued a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. UBS Group cut their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley reduced their target price on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 15th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $259.83.

Broadridge Financial Solutions Stock Down 0.3%

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. The company has a fifty day simple moving average of $227.12 and a two-hundred day simple moving average of $239.46. The firm has a market capitalization of $26.37 billion, a PE ratio of 28.93 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The firm had revenue of $1.05 billion for the quarter. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is currently 49.94%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,214 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the transaction, the vice president directly owned 6,026 shares in the company, valued at approximately $1,381,520.76. This trade represents a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares of the company’s stock, valued at $10,131,354. This trade represents a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Several large investors have recently bought and sold shares of BR. Allworth Financial LP grew its position in Broadridge Financial Solutions by 1.8% during the 3rd quarter. Allworth Financial LP now owns 33,076 shares of the business services provider’s stock worth $7,878,000 after purchasing an additional 579 shares during the period. Groupama Asset Managment boosted its stake in shares of Broadridge Financial Solutions by 278.9% in the third quarter. Groupama Asset Managment now owns 7,142 shares of the business services provider’s stock worth $1,701,000 after buying an additional 5,257 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $3,851,000. Kensington Investment Counsel LLC raised its position in Broadridge Financial Solutions by 1.5% during the third quarter. Kensington Investment Counsel LLC now owns 20,091 shares of the business services provider’s stock valued at $4,785,000 after acquiring an additional 289 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Broadridge Financial Solutions by 0.4% in the third quarter. Captrust Financial Advisors now owns 407,023 shares of the business services provider’s stock valued at $96,941,000 after acquiring an additional 1,626 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.