Broadridge Financial Solutions Inc. (BR) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. “
Several other research analysts also recently commented on the company. Sandler O’Neill downgraded Broadridge Financial Solutions from a buy rating to a hold rating and set a $74.00 target price for the company. in a research note on Thursday, September 29th. Barclays PLC lifted their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an equal weight rating in a report on Wednesday, August 10th. Finally, Atlantic Securities started coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They set an overweight rating and a $82.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $72.60.
Shares of Broadridge Financial Solutions (NYSE:BR) opened at 65.94 on Monday. Broadridge Financial Solutions has a 12 month low of $48.56 and a 12 month high of $71.74. The firm has a 50-day moving average price of $64.38 and a 200-day moving average price of $66.13. The company has a market capitalization of $7.85 billion, a PE ratio of 26.06 and a beta of 1.10.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Broadridge Financial Solutions had a net margin of 9.62% and a return on equity of 34.10%. The company earned $895 million during the quarter, compared to the consensus estimate of $880.41 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 50.4% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions will post $3.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 12th. This represents a $1.32 annualized dividend and a yield of 2.00%. Broadridge Financial Solutions’s dividend payout ratio is presently 52.17%.
In other news, Director Leslie A. Brun sold 7,925 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $62.66, for a total transaction of $496,580.50. Following the completion of the transaction, the director now owns 30,622 shares of the company’s stock, valued at approximately $1,918,774.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stuart R. Levine sold 8,170 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $64.98, for a total value of $530,886.60. Following the transaction, the director now directly owns 35,130 shares of the company’s stock, valued at approximately $2,282,747.40. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock worth $103,000 after buying an additional 176 shares during the period. Integrated Investment Consultants LLC boosted its position in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock worth $139,000 after buying an additional 1,450 shares during the period. Penserra Capital Management LLC boosted its position in Broadridge Financial Solutions by 97.2% in the third quarter. Penserra Capital Management LLC now owns 2,378 shares of the company’s stock worth $160,000 after buying an additional 1,172 shares during the period. Capital Guardian Trust Co. boosted its position in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock worth $165,000 after buying an additional 299 shares during the period. Finally, Strs Ohio acquired a new position in Broadridge Financial Solutions during the second quarter worth approximately $173,000. 83.65% of the stock is owned by institutional investors.
About Broadridge Financial Solutions
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.