Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) Director Sells 4,829 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) Director Pamela L. Carter sold 4,829 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now owns 7,242 shares in the company, valued at $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Broadridge Financial Solutions Stock Down 0.5%

NYSE:BR opened at $237.87 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s fifty day moving average is $235.28 and its two-hundred day moving average is $233.43. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 37.23 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $2.23 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Institutional Trading of Broadridge Financial Solutions

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth $29,000. Whipplewood Advisors LLC increased its position in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after acquiring an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at $34,000. Continuum Advisory LLC raised its stake in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BR shares. Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $250.83.

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.