Broadridge Financial Solutions (NYSE:BR) Receives “Peer Perform” Rating from Wolfe Research

Wolfe Research reaffirmed their peer perform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a report issued on Thursday morning, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. Morgan Stanley lifted 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 report on Wednesday, November 6th. DA Davidson raised their target price on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, JPMorgan Chase & Co. upped their price objective 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of NYSE BR opened at $236.02 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average price is $224.07 and its two-hundred day moving average price is $212.52. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $237.96. The stock has a market capitalization of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’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 of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $44,746,000. Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares during the period. Benjamin Edwards Inc. lifted its stake in Broadridge Financial Solutions by 2,302.8% during the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after buying an additional 140,886 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth about $274,650,000. Finally, BNP Paribas Financial Markets increased its position in shares of Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after acquiring an additional 98,275 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

About Broadridge Financial Solutions

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.