Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) Chairman Sells $4,555,645.08 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $211.25 on Thursday. The firm’s fifty day moving average price is $209.30 and its two-hundred day moving average price is $202.98. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The firm has a market capitalization of $24.65 billion, a P/E ratio of 36.05 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 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 (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change 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 1.67%. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of large investors have recently added to or reduced their stakes in the business. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at about $32,000. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $32,000. Manchester Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth approximately $34,000. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.