Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) VP Sells 15,710 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Broadridge Financial Solutions Price Performance

BR traded up $0.97 during midday trading on Wednesday, hitting $233.19. The stock had a trading volume of 72,583 shares, compared to its average volume of 519,843. The company has a market cap of $27.26 billion, a P/E ratio of 40.35 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The business has a fifty day moving average of $220.97 and a 200 day moving average of $211.02.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 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 Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $222.43.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently modified their holdings of BR. State Street Corp boosted its position in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after buying an additional 51,439 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after buying an additional 15,208 shares during the last quarter. Stifel Financial Corp boosted its position in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after purchasing an additional 6,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

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.