Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Sells $5,232,750.00 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at $43,190,909.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Broadridge Financial Solutions Stock Down 0.6 %

Shares of NYSE BR opened at $209.03 on Monday. The firm has a market cap of $24.70 billion, a price-to-earnings ratio of 35.67 and a beta of 1.04. The company’s 50-day simple moving average is $206.16 and its 200-day simple moving average is $201.77. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $213.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth $32,000. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $34,000. Finally, Manchester Capital Management LLC lifted its stake in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

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.