Zacks Investment Research lowered shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research note released on Tuesday, January 9th.
According to Zacks, “Broadridge provides technology-based outsourcing solutions to the financial services industry. Shares of the company outperformed the industry to which it belongs to in the last one year. We remain optimistic about Broadridge’s strategic acquisitions, product launches, share repurchase program and dividend paying initiatives. We also believe that the company’s strong business relations with companies like Accenture and Amazon.com’s Amazon Web Services will be beneficial in the long run. Apart from this, regular additions to the company’s clientele have been tailwinds. In December 2017, the company’s solutions were adopted by a Miami based broker-dealer, Beta Capital Wealth Management as the latter is transforming to a self-clearing process. However, competition and pricing pressure remain major headwinds.”
BR has been the topic of a number of other reports. DA Davidson reiterated a hold rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, November 9th. ValuEngine upgraded Broadridge Financial Solutions from a hold rating to a buy rating in a report on Tuesday, November 14th. Barclays reissued a hold rating and issued a $95.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, December 8th. Finally, Raymond James Financial reissued a hold rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, The stock has an average rating of Hold and an average target price of $90.50.
Broadridge Financial Solutions (NYSE:BR) traded up $0.80 during trading on Tuesday, hitting $95.93. The company’s stock had a trading volume of 289,335 shares, compared to its average volume of 428,368. The company has a market cap of $11,180.00, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99. Broadridge Financial Solutions has a 52-week low of $65.35 and a 52-week high of $96.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The firm had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. sell-side analysts expect that Broadridge Financial Solutions will post 3.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th were given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 51.05%.
In other news, Director Richard J. Haviland sold 7,655 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the sale, the director now directly owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Schifellite sold 49,181 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $89.47, for a total value of $4,400,224.07. Following the sale, the insider now directly owns 149,181 shares of the company’s stock, valued at $13,347,224.07. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BR. Acrospire Investment Management LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $108,000. Toronto Dominion Bank increased its holdings in Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after acquiring an additional 149 shares during the last quarter. Advisory Services Network LLC increased its holdings in Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after acquiring an additional 706 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after acquiring an additional 600 shares during the last quarter. Finally, ETF Managers Group LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $144,000. 83.50% of the stock is owned by institutional investors.
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Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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