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

Wolfe Research reissued their peer perform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note published on Thursday, MarketBeat reports.

A number of other research firms have also recently weighed in on BR. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Trading Down 0.6 %

BR stock opened at $233.53 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. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $237.96. The company’s 50-day simple moving average is $224.43 and its 200-day simple moving average is $212.87. The firm has a market cap of $27.30 billion, a P/E ratio of 40.40 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. As a group, equities analysts forecast that Broadridge Financial Solutions will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,532 shares of company stock valued at $12,264,846. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Large investors have recently modified their holdings of the business. Qsemble Capital Management LP acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $1,412,000. Atria Investments Inc boosted its position in shares of Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Broadridge Financial Solutions by 22.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after purchasing an additional 6,690 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $483,000. Finally, Quest Partners LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter worth $2,251,000. 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.