Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Broadridge Financial Solutions Trading Up 1.0 %
Shares of NYSE:BR traded up $2.19 during mid-day trading on Friday, reaching $227.76. 297,669 shares of the company were exchanged, compared to its average volume of 471,764. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05. The firm's 50-day simple moving average is $235.40 and its 200 day simple moving average is $226.00. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 in the previous year, the company posted $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. 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 dividend payout ratio (DPR) is presently 55.09%.
Institutional Investors Weigh In On Broadridge Financial Solutions
A number of hedge funds have recently added to or reduced their stakes in BR. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after buying an additional 142 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Fortitude Family Office LLC raised its holdings in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $36,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $39,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently issued reports on BR shares. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $239.17.
Check Out Our Latest Stock Analysis on BR
About Broadridge Financial Solutions
(
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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.
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