ValuEngine downgraded shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a report released on Friday morning.
Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an equal weight rating in a research report on Friday, August 11th. DA Davidson reissued a hold rating and issued a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Finally, BidaskClub raised shares of Broadridge Financial Solutions from a sell rating to a hold rating in a research note on Tuesday, August 22nd.
Shares of Broadridge Financial Solutions (NYSE BR) traded down $0.13 during trading hours on Friday, hitting $90.13. 498,300 shares of the stock traded hands, compared to its average volume of 465,164. The stock has a market cap of $10,504.88, a P/E ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.99. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25. Broadridge Financial Solutions has a twelve month low of $63.28 and a twelve month high of $91.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be paid a $0.365 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.62%. Broadridge Financial Solutions’s payout ratio is 50.87%.
In related news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BR. Bank of Montreal Can lifted its holdings in Broadridge Financial Solutions by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 29,524 shares of the business services provider’s stock valued at $2,231,000 after purchasing an additional 1,204 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in Broadridge Financial Solutions by 7,456.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 36,269 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 35,789 shares in the last quarter. World Asset Management Inc lifted its holdings in Broadridge Financial Solutions by 1.0% in the 2nd quarter. World Asset Management Inc now owns 8,919 shares of the business services provider’s stock valued at $674,000 after purchasing an additional 91 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Broadridge Financial Solutions by 19.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,141 shares of the business services provider’s stock valued at $540,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Korea Investment CORP purchased a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $1,473,000. Institutional investors own 83.54% of the company’s stock.
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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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