Insider Selling: Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Sells 25,000 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Broadridge Financial Solutions Trading Down 0.1 %

Broadridge Financial Solutions stock traded down $0.28 during midday trading on Friday, reaching $208.71. 537,674 shares of the stock traded hands, compared to its average volume of 523,982. The company has a 50-day simple moving average of $204.60 and a two-hundred day simple moving average of $201.49. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The firm has a market cap of $24.67 billion, a PE ratio of 35.62 and a beta of 1.04. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed 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 is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. LifeSteps Financial Inc. purchased a new stake in Broadridge Financial Solutions in the first quarter valued at $32,000. EdgeRock Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. Stuart Chaussee & Associates Inc. purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Finally, Manchester Capital Management LLC increased its position in 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 buying an additional 60 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

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

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.