Richard J. Daly Sells 21,938 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 owns 105,094 shares in the company, valued at $21,823,820.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $211.25 on Thursday. The firm’s 50 day simple moving average is $209.30 and its 200 day simple moving average is $202.98. The firm has a market capitalization of $24.65 billion, a price-to-earnings 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, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $3.21 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share 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. Shareholders of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after purchasing an additional 39,537 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Broadridge Financial Solutions by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after buying an additional 28,180 shares during the last quarter. Capital International Investors increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after buying an additional 7,970 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Broadridge Financial Solutions by 3.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after acquiring an additional 43,958 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of a number of recent research reports. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

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.