Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Sells $22,590,921.08 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR opened at $225.33 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 35.26 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The business’s 50 day simple moving average is $235.46 and its 200-day simple moving average is $225.77.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $239.17.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently bought and sold shares of BR. Menard Financial Group LLC grew its position in shares of Broadridge Financial Solutions by 4.4% during the 4th quarter. Menard Financial Group LLC now owns 4,086 shares of the business services provider’s stock worth $924,000 after buying an additional 172 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at about $25,233,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Broadridge Financial Solutions by 16.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,294 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 184 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Broadridge Financial Solutions by 2.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,222 shares of the business services provider’s stock valued at $504,000 after buying an additional 61 shares during the last quarter. Finally, United Advisor Group LLC lifted its holdings in Broadridge Financial Solutions by 16.7% in the fourth quarter. United Advisor Group LLC now owns 2,812 shares of the business services provider’s stock valued at $636,000 after acquiring an additional 402 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

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.