Broadridge Financial Solutions, Inc. (BR) Insider Sells $1,507,017.53 in Stock
Broadridge Financial Solutions, Inc. (NYSE:BR) insider Charles J. Marchesani sold 20,473 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $73.61, for a total transaction of $1,507,017.53. Following the completion of the transaction, the insider now directly owns 32,328 shares in the company, valued at approximately $2,379,664.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded up 1.04% on Wednesday, hitting $74.88. 504,961 shares of the stock traded hands. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $74.94. The stock has a market cap of $8.80 billion, a PE ratio of 29.33 and a beta of 1.07. The stock has a 50 day moving average of $69.57 and a 200-day moving average of $67.42.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $997.65 million. Broadridge Financial Solutions had a return on equity of 33.76% and a net margin of 8.62%. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 53.88%.
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Several hedge funds have recently added to or reduced their stakes in BR. Bank of Nova Scotia purchased a new stake in Broadridge Financial Solutions during the first quarter valued at $8,542,000. Janus Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 2.4% in the first quarter. Janus Capital Management LLC now owns 7,882,947 shares of the business services provider’s stock valued at $535,646,000 after buying an additional 187,411 shares during the last quarter. Colony Group LLC boosted its stake in shares of Broadridge Financial Solutions by 5.6% in the first quarter. Colony Group LLC now owns 105,676 shares of the business services provider’s stock valued at $7,181,000 after buying an additional 5,599 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 10.4% in the first quarter. HighTower Advisors LLC now owns 16,886 shares of the business services provider’s stock valued at $1,148,000 after buying an additional 1,596 shares during the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $692,000. Institutional investors own 83.30% of the company’s stock.
Separately, Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Friday, February 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $72.60.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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