Broadridge Financial Solutions (NYSE:BR) Hits New 12-Month Low – Here’s Why

Broadridge Financial Solutions, Inc. (NYSE:BR) shares reached a new 52-week low during trading on Friday . The stock traded as low as $202.00 and last traded at $202.00, with a volume of 710 shares traded. The stock had previously closed at $226.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BR shares. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. 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. DA Davidson reissued a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Morgan Stanley reduced their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, UBS Group lowered their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $259.83.

Broadridge Financial Solutions Trading Down 0.6%

The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 28.85 and a beta of 0.99. The business has a fifty day moving average of $227.26 and a two-hundred day moving average of $239.61. 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 (NYSE:BR) last posted 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 company had revenue of $1.05 billion for the quarter. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the transaction, the president owned 44,829 shares of the company’s stock, valued at $10,131,354. This represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 10,214 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total value of $2,341,661.64. Following the completion of the transaction, the vice president owned 6,026 shares of the company’s stock, valued at $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BR. Alliancebernstein L.P. grew its position in Broadridge Financial Solutions by 692.3% in the third quarter. Alliancebernstein L.P. now owns 3,690,705 shares of the business services provider’s stock valued at $879,015,000 after acquiring an additional 3,224,891 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Broadridge Financial Solutions by 28,222.6% during the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock valued at $230,254,000 after acquiring an additional 946,304 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock worth $251,513,000 after acquiring an additional 883,125 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Broadridge Financial Solutions by 3,228.4% in the third quarter. Van ECK Associates Corp now owns 700,536 shares of the business services provider’s stock worth $166,846,000 after acquiring an additional 679,489 shares in the last quarter. Finally, Norges Bank purchased a new position in Broadridge Financial Solutions in the second quarter valued at about $123,812,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Company Profile

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.