Business Solution

Broadridge Financial Solutions (NYSE:BR) Coverage Initiated at StockNews.com


StockNews.com began coverage on shares of Broadridge Financial Solutions (NYSE:BRGet Rating) in a report released on Wednesday. The brokerage set a “hold” rating on the business services provider’s stock.

Separately, Raymond James upped their target price on Broadridge Financial Solutions from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th.

Broadridge Financial Solutions Stock Down 0.8 %

Shares of NYSE BR opened at $142.40 on Wednesday. Broadridge Financial Solutions has a one year low of $132.40 and a one year high of $185.40. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average price is $164.52 and its 200-day moving average price is $153.38. The stock has a market capitalization of $16.70 billion, a PE ratio of 31.30 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BRGet Rating) last released its quarterly earnings data on Friday, August 12th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.65. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. Broadridge Financial Solutions had a return on equity of 42.29% and a net margin of 9.44%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.19 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions will post 7.07 EPS for the current year.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 16,703 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $179.16, for a total value of $2,992,509.48. Following the completion of the transaction, the vice president now directly owns 12,902 shares in the company, valued at approximately $2,311,522.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 16,703 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.16, for a total value of $2,992,509.48. Following the completion of the sale, the vice president now owns 12,902 shares in the company, valued at approximately $2,311,522.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert Schifellite sold 69,616 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.18, for a total value of $12,473,794.88. Following the completion of the sale, the senior vice president now owns 57,616 shares of the company’s stock, valued at approximately $10,323,634.88. The disclosure for this sale can be found here. In the last three months, insiders sold 163,004 shares of company stock worth $28,916,462. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently modified their holdings of BR. Stratos Wealth Partners LTD. raised its holdings in Broadridge Financial Solutions by 3.4% during the first quarter. Stratos Wealth Partners LTD. now owns 14,006 shares of the business services provider’s stock valued at $2,181,000 after acquiring an additional 459 shares during the period. Veriti Management LLC lifted its holdings in Broadridge Financial Solutions by 10.4% during the second quarter. Veriti Management LLC now owns 2,573 shares of the business services provider’s stock worth $367,000 after buying an additional 243 shares during the period. Prudential PLC lifted its holdings in Broadridge Financial Solutions by 14.9% during the first quarter. Prudential PLC now owns 18,435 shares of the business services provider’s stock worth $2,871,000 after buying an additional 2,386 shares during the period. MetLife Investment Management LLC lifted its holdings in Broadridge Financial Solutions by 41.5% during the first quarter. MetLife Investment Management LLC now owns 36,445 shares of the business services provider’s stock worth $5,675,000 after buying an additional 10,689 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Broadridge Financial Solutions by 35.7% during the first quarter. Meeder Asset Management Inc. now owns 2,455 shares of the business services provider’s stock worth $382,000 after buying an additional 646 shares during the period. Institutional investors own 87.14% of the company’s stock.

Broadridge Financial Solutions Company Profile

(Get Rating)

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.

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Broadridge Financial Solutions (NYSE:BR) Coverage Initiated at StockNews.com

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