Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Sells $22,590,921.08 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Broadridge Financial Solutions Stock Up 1.0 %

Shares of BR opened at $227.76 on Friday. The company has a 50-day simple moving average of $235.43 and a 200-day simple moving average of $225.77. The firm has a market capitalization of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company earned $0.92 earnings per share. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BR shares. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $239.17.

Institutional Trading of Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at about $9,385,000. Menard Financial Group LLC increased its stake in Broadridge Financial Solutions by 4.4% in the fourth quarter. Menard Financial Group LLC now owns 4,086 shares of the business services provider’s stock valued at $924,000 after acquiring an additional 172 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at about $25,233,000. Pinnacle Wealth Planning Services Inc. increased its stake in Broadridge Financial Solutions by 16.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,294 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 184 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in Broadridge Financial Solutions by 2.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,222 shares of the business services provider’s stock valued at $504,000 after acquiring an additional 61 shares during the period. 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.