Broadridge Financial Solutions VP Sells $999,646 in Stock (BR)
Broadridge Financial Solutions (NYSE:BR) VP Robert Schifellite unloaded 23,875 shares of the company’s stock on the open market in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $41.87, for a total transaction of $999,646.25. Following the sale, the vice president now directly owns 59,047 shares in the company, valued at approximately $2,472,298. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on BR. 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $40.62.
Broadridge Financial Solutions (NYSE:BR) traded down 1.50% during mid-day trading on Thursday, hitting $41.50. 569,654 shares of the company’s stock traded hands. Broadridge Financial Solutions has a 1-year low of $25.65 and a 1-year high of $42.32. The stock has a 50-day moving average of $38.94 and a 200-day moving average of $38.02. The company has a market cap of $5.008 billion and a P/E ratio of 20.35. Broadridge Financial Solutions also saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 965,566 shares, a drop of 48.4% from the April 30th total of 1,871,892 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 538,722 shares, the short-interest ratio is currently 1.8 days.
Broadridge Financial Solutions (NYSE:BR) last released its earnings data on Friday, May 9th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that Broadridge Financial Solutions will post $2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date 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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