Broadridge Financial Solutions Shares Down 1.3% on Insider Selling (BR)
Broadridge Financial Solutions (NYSE:BR)’s share price was down 1.3% during mid-day trading on Thursday following insider selling activity, AnalystRatingsNetwork.com reports. The stock traded as low as $41.55 and last traded at $41.59, with a volume of 297,738 shares. The stock had previously closed at $42.13.
Specifically, VP Robert Schifellite sold 23,875 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $41.87, for a total value of $999,646.25. The sale was disclosed in a document filed with the SEC, which is available at this link.
BR has been the subject of a number of recent research reports. Analysts at Credit Suisse raised their price target on shares of Broadridge Financial Solutions from $39.00 to $40.00 in a research note on Wednesday, May 14th. They now have a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $39.00 to $41.00 in a research note on Tuesday, May 13th. They now have a “neutral” rating on the stock. Finally, analysts at Zacks downgraded shares of Broadridge Financial Solutions from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $43.10 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.62.
The stock has a 50-day moving average of $39.09 and a 200-day moving average of $38.05. The company has a market cap of $5.009 billion and a P/E ratio of 20.35. Broadridge Financial Solutions also was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 965,566 shares, a decrease of 48.4% from the April 30th total of 1,871,892 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 538,722 shares, the days-to-cover ratio is presently 1.8 days.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $593.31 million. During the same quarter last year, the company posted $0.37 earnings per share. Broadridge Financial Solutions’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions will post $2.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, June 12th.
Broadridge Financial Solutions, Inc (NYSE:BR) is a global provider of investor communications and technology-driven solutions to banks/broker-dealers, mutual funds and corporate issuers.
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