Today, Broadridge Financial Solutions Inc. (BR) Downgraded by Zacks Investment Research

Today, Broadridge Financial Solutions Inc. (BR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Broadridge Financial Solutions Inc. (NYSE:BR) from a hold rating to a sell rating in a report issued on Monday morning.

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. “

BR has been the subject of a number of other reports. Raymond James Financial Inc. downgraded Broadridge Financial Solutions from an outperform rating to a market perform rating in a report on Tuesday, June 7th. They noted that the move was a valuation call. Sandler O’Neill downgraded Broadridge Financial Solutions from a buy rating to a hold rating and set a $74.00 price objective for the company. in a report on Thursday, September 29th. Barclays PLC downgraded Broadridge Financial Solutions from an overweight rating to an equal weight rating and set a $67.00 price objective for the company. in a report on Thursday, July 7th. Avondale Partners downgraded Broadridge Financial Solutions from an outperform rating to a market perform rating and set a $65.00 price objective for the company. in a report on Wednesday, June 15th. 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 objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $72.60.

Broadridge Financial Solutions (NYSE:BR) opened at 67.92 on Monday. The stock’s 50 day moving average price is $68.89 and its 200 day moving average price is $64.77. 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 $8.03 billion, a price-to-earnings ratio of 26.85 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.45 EPS for the quarter, hitting analysts’ consensus estimates of $1.45. The business earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. On average, analysts forecast that Broadridge Financial Solutions will post $3.14 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were issued a $0.33 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.94%. The ex-dividend date was Tuesday, September 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.17%.

In other Broadridge Financial Solutions news, insider Adam D. Amsterdam sold 91,412 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $68.02, for a total value of $6,217,844.24. Following the completion of the transaction, the insider now directly owns 60,134 shares of the company’s stock, valued at approximately $4,090,314.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert F. Kalenka sold 53,818 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $68.96, for a total transaction of $3,711,289.28. Following the completion of the transaction, the insider now directly owns 52,447 shares of the company’s stock, valued at $3,616,745.12. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. 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 last quarter. IFP Advisors Inc boosted its position in Broadridge Financial Solutions by 64.5% in the first quarter. IFP Advisors Inc now owns 2,254 shares of the company’s stock worth $134,000 after buying an additional 884 shares during the last quarter. 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 last quarter. 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 last quarter. Finally, Strs Ohio purchased a new position in Broadridge Financial Solutions during the second quarter worth $173,000. 87.38% 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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.

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