Broadridge Financial Solutions Inc. (NYSE:BR) insider Richard J. Daly sold 125,652 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $69.58, for a total transaction of $8,742,866.16. Following the completion of the sale, the insider now owns 231,703 shares in the company, valued at approximately $16,121,894.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Broadridge Financial Solutions Inc. (NYSE:BR) opened at 68.77 on Friday. Broadridge Financial Solutions Inc. has a 52 week low of $48.56 and a 52 week high of $71.74. The stock’s 50 day moving average is $68.92 and its 200-day moving average is $64.03. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 27.18 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.45. Broadridge Financial Solutions had a return on equity of 34.79% and a net margin of 10.61%. The firm had revenue of $975 million for the quarter, compared to analyst estimates of $991.13 million. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Broadridge Financial Solutions Inc. will post $3.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be given a dividend of $0.33 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.17%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Broadridge Financial Solutions by 35.3% in the second quarter. BlackRock Fund Advisors now owns 5,502,944 shares of the company’s stock worth $358,792,000 after buying an additional 1,436,828 shares during the period. Norges Bank purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $63,722,000. Bank of New York Mellon Corp increased its position in Broadridge Financial Solutions by 67.4% in the second quarter. Bank of New York Mellon Corp now owns 2,457,241 shares of the company’s stock valued at $160,211,000 after buying an additional 989,508 shares in the last quarter. Fiera Capital Corp purchased a new position in Broadridge Financial Solutions during the second quarter valued at approximately $51,374,000. Finally, Riverhead Capital Management LLC increased its position in Broadridge Financial Solutions by 4,441.2% in the second quarter. Riverhead Capital Management LLC now owns 803,789 shares of the company’s stock valued at $7,379,000 after buying an additional 786,089 shares in the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.
BR has been the topic of several research reports. Barclays PLC boosted their price target on shares of Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Avondale Partners lowered shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research note on Wednesday, June 15th. Raymond James Financial Inc. lowered shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 7th. They noted that the move was a valuation call. Finally, Atlantic Securities assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, September 13th. They set an “overweight” rating and a $82.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $72.25.
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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.
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