Key Points
- Broadridge VP Thomas Carey sold 10,214 shares on Dec. 3 at an average price of $229.26 for about $2.34M, reducing his holdings by 62.89% to 6,026 shares; the sale was disclosed in an SEC filing.
- Dividend and analyst context: Broadridge announced a quarterly dividend of $0.975 (annualized $3.90, yield 1.7%, ex-dividend Dec. 12, payable Jan. 5), while analysts have an average "Hold" rating with a $259.83 target and the stock trades around $229 with a P/E of ~29.4.
Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) VP Thomas Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total value of $2,341,661.64. Following the completion of the sale, the vice president directly owned 6,026 shares in the company, valued at approximately $1,381,520.76. The trade was a 62.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Broadridge Financial Solutions Stock Down 0.4%
NYSE BR opened at $229.85 on Friday. The stock has a 50 day moving average price of $228.72 and a 200-day moving average price of $240.40. Broadridge Financial Solutions, Inc. has a one year low of $212.33 and a one year high of $271.91. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $26.83 billion, a P/E ratio of 29.43 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The company had revenue of $1.05 billion for the quarter. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.
Broadridge Financial Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions's payout ratio is presently 49.94%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Broadridge Financial Solutions by 56.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider's stock valued at $1,344,000 after purchasing an additional 1,987 shares during the last quarter. Shell Asset Management Co. increased its holdings in Broadridge Financial Solutions by 87.9% in the 2nd quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider's stock worth $7,308,000 after buying an additional 14,067 shares during the period. Nordea Investment Management AB raised its position in Broadridge Financial Solutions by 40.8% during the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider's stock worth $52,900,000 after buying an additional 63,798 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Broadridge Financial Solutions by 62.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider's stock valued at $167,000 after acquiring an additional 265 shares during the last quarter. Finally, Triangle Securities Wealth Management acquired a new position in Broadridge Financial Solutions during the second quarter valued at $784,000. Hedge funds and other institutional investors own 90.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Morgan Stanley decreased their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 5th. DA Davidson restated a "neutral" rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. UBS Group decreased their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Monday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $259.83.
Check Out Our Latest Analysis on Broadridge Financial Solutions
Broadridge Financial Solutions Company Profile
(
Get Free Report)
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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