Broadridge Financial Solutions (NYSE:BR) President Sells 3,984 Shares

Broadridge Financial Solutions, Inc. (NYSE:BR) President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Broadridge Financial Solutions Stock Performance

NYSE BR traded up $0.85 during trading hours on Tuesday, reaching $225.62. 234,662 shares of the company were exchanged, compared to its average volume of 609,022. The stock has a market capitalization of $26.34 billion, a P/E ratio of 28.88 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 1 year low of $212.33 and a 1 year high of $271.91. The business’s 50 day simple moving average is $233.22 and its 200-day simple moving average is $241.26.

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 net margin of 13.11% and a return on equity of 43.28%. The firm had revenue of $1.05 billion for the quarter. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be paid a dividend of $0.975 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BR shares. Wall Street Zen upgraded 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 issued a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Needham & Company LLC upped their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Tuesday, November 11th. Finally, Morgan Stanley dropped their target price on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $259.83.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several large investors have recently added to or reduced their stakes in BR. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $15,221,000. Morningstar Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $691,000. Kestra Private Wealth Services LLC raised its stake in Broadridge Financial Solutions by 0.7% in the third quarter. Kestra Private Wealth Services LLC now owns 30,995 shares of the business services provider’s stock valued at $7,382,000 after purchasing an additional 206 shares in the last quarter. NewEdge Advisors LLC lifted its position in Broadridge Financial Solutions by 17.0% during the third quarter. NewEdge Advisors LLC now owns 26,928 shares of the business services provider’s stock valued at $6,413,000 after purchasing an additional 3,907 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Broadridge Financial Solutions by 4.1% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 149,458 shares of the business services provider’s stock worth $35,507,000 after buying an additional 5,858 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

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.