Key Points
- Director Maura Markus sold 3,180 Broadridge shares for about $610,210 at an average price of $191.89 under a pre-arranged Rule 10b5-1 plan. She retained 33,769 shares after the sale.
- Broadridge beat quarterly earnings expectations, reporting $1.56 EPS and $1.67 billion in revenue; revenue rose 5% year over year.
- The company announced a quarterly dividend of $1.09 per share, equal to an annualized $4.36 and a 2.3% yield. Analysts’ consensus rating was “Moderate Buy,” with a $212.71 target price.
Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) Director Maura Markus sold 3,180 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $191.89, for a total transaction of $610,210.20. Following the completion of the transaction, the director directly owned 33,769 shares in the company, valued at approximately $6,479,933.41. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Broadridge Financial Solutions Trading Down 0.7%
Shares of BR opened at $191.56 on Friday. The stock has a market capitalization of $21.67 billion, a P/E ratio of 21.17 and a beta of 0.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $173.03 and a two-hundred day simple moving average of $165.53. Broadridge Financial Solutions, Inc. has a twelve month low of $133.83 and a twelve month high of $233.10.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.19. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $1.51 EPS. The company's revenue was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current year.
Broadridge Financial Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 10th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, December 10th. Broadridge Financial Solutions's dividend payout ratio is currently 48.18%.
Analyst Ratings Changes
Several analysts recently issued reports on BR shares. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. Weiss Ratings raised Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 4th. DA Davidson reiterated a "buy" rating and issued a $214.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada lifted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.71.
Get Our Latest Stock Analysis on Broadridge Financial Solutions
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth about $1,473,918,000. Jupiter Topco LLC bought a new position in Broadridge Financial Solutions in the second quarter worth about $261,852,000. Van ECK Associates Corp lifted its holdings in Broadridge Financial Solutions by 11.3% in the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock worth $256,875,000 after buying an additional 190,301 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Broadridge Financial Solutions in the second quarter worth about $197,921,000. Finally, Amundi boosted its position in Broadridge Financial Solutions by 67.5% during the 1st quarter. Amundi now owns 1,059,021 shares of the business services provider's stock valued at $172,070,000 after acquiring an additional 426,587 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.
About Broadridge Financial Solutions
(
Get Free Report)
Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company's services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.
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