Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Sells 25,000 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $209.04 on Friday. The company has a market cap of $24.70 billion, a P/E ratio of 35.67 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The company’s 50-day moving average price is $206.16 and its 200-day moving average price is $201.73. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share 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 business 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. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BR. Oregon Public Employees Retirement Fund boosted its stake in shares of Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after buying an additional 50 shares during the period. Garrison Asset Management LLC raised its holdings in Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after acquiring an additional 50 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its stake in Broadridge Financial Solutions by 4.5% in the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after acquiring an additional 51 shares during the last quarter. New York Life Investment Management LLC grew its holdings in Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after acquiring an additional 52 shares in the last quarter. Finally, TIAA Trust National Association grew its holdings in Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

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

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.