Broadridge Financial Solutions Inc. (BR) Rating Increased to Hold at Zacks Investment Research
Broadridge Financial Solutions Inc. (NYSE:BR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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. “
A number of other equities research analysts have also weighed in on the company. Sandler O’Neill lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research report on Thursday, September 29th. Atlantic Securities assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $82.00 price objective on the stock. Finally, Barclays PLC lifted their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.60.
Shares of Broadridge Financial Solutions (NYSE:BR) opened at 66.89 on Monday. Broadridge Financial Solutions has a 52-week low of $48.56 and a 52-week high of $71.74. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 26.44 and a beta of 1.10. The company has a 50-day moving average price of $64.38 and a 200-day moving average price of $66.13.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data 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. The business earned $895 million during the quarter, compared to the consensus estimate of $880.41 million. Broadridge Financial Solutions had a return on equity of 34.10% and a net margin of 9.62%. Broadridge Financial Solutions’s quarterly revenue was up 50.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions will post $3.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.97%. Broadridge Financial Solutions’s dividend payout ratio is presently 52.17%.
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In related news, insider Richard J. Daly sold 6,095 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $68.13, for a total transaction of $415,252.35. Following the sale, the insider now directly owns 254,104 shares in the company, valued at $17,312,105.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stuart R. Levine sold 8,170 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $64.98, for a total value of $530,886.60. Following the sale, the director now owns 35,130 shares in the company, valued at $2,282,747.40. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BR. Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $103,000 after buying an additional 176 shares during the period. Integrated Investment Consultants LLC increased its stake 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 valued at $139,000 after buying an additional 1,450 shares during the period. Penserra Capital Management LLC increased its stake 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 valued at $160,000 after buying an additional 1,172 shares during the period. Capital Guardian Trust Co. increased its stake 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 valued at $165,000 after buying an additional 299 shares during the period. Finally, FineMark National Bank & Trust increased its stake in Broadridge Financial Solutions by 72.0% in the third quarter. FineMark National Bank & Trust now owns 2,569 shares of the company’s stock valued at $174,000 after buying an additional 1,075 shares during the period. Institutional investors own 83.65% of the company’s stock.
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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