UBS Group Cuts Broadridge Financial Solutions (NYSE:BR) Price Target to $250.00

Broadridge Financial Solutions (NYSE:BR) had its target price lowered by UBS Group from $280.00 to $250.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

BR has been the topic of several other research reports. Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, DA Davidson reissued a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $259.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $225.92 on Thursday. The firm’s 50-day moving average is $233.79 and its 200-day moving average is $241.29. The company has a market cap of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. Broadridge Financial Solutions has a 52-week low of $212.33 and a 52-week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The business had revenue of $1.05 billion for the quarter. Equities research analysts anticipate that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is 49.94%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the transaction, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in BR. Schonfeld Strategic Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 50.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 3,852 shares of the business services provider’s stock valued at $917,000 after acquiring an additional 1,292 shares during the period. Creative Planning raised its holdings in Broadridge Financial Solutions by 9.4% during the 3rd quarter. Creative Planning now owns 28,220 shares of the business services provider’s stock worth $6,721,000 after purchasing an additional 2,413 shares during the last quarter. AQR Capital Management LLC lifted its position in Broadridge Financial Solutions by 5.8% during the 3rd quarter. AQR Capital Management LLC now owns 279,446 shares of the business services provider’s stock valued at $66,135,000 after purchasing an additional 15,364 shares during the period. Zacks Investment Management boosted its stake in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Zacks Investment Management now owns 140,644 shares of the business services provider’s stock valued at $33,497,000 after purchasing an additional 767 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $23,884,000. 90.03% of the stock is owned by institutional investors and hedge funds.

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.