Broadridge Financial Solutions, Inc. (NYSE:BR) President Sells $6,540,242.43 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Christopher John Perry also recently made the following trade(s):

• On Friday, August 16th, Christopher John Perry sold 300 shares of Broadridge Financial Solutions stock. The shares were sold at an average price of $210.00, for a total transaction of $63,000.00.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of BR stock opened at $208.71 on Friday. The stock has a market cap of $24.67 billion, a P/E ratio of 35.62 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company’s fifty day simple moving average is $204.81 and its two-hundred day simple moving average is $201.49.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.21 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BR shares. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $213.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $213.17.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds have recently made changes to their positions in BR. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $227,750,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $364,000. Cerity Partners LLC raised its position in shares of Broadridge Financial Solutions by 40.6% during the 4th quarter. Cerity Partners LLC now owns 8,289 shares of the business services provider’s stock valued at $1,706,000 after buying an additional 2,395 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $1,461,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Broadridge Financial Solutions by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,577 shares of the business services provider’s stock valued at $58,552,000 after buying an additional 2,815 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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.