Broadridge Financial Solutions, Inc. (NYSE:BR) VP Adam D. Amsterdam Sells 20,880 Shares of Stock

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Broadridge Financial Solutions, Inc. (NYSE:BR) VP Adam D. Amsterdam sold 20,880 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $128.92, for a total value of $2,691,849.60. Following the sale, the vice president now owns 20,365 shares of the company’s stock, valued at $2,625,455.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

BR stock opened at $127.33 on Thursday. The company has a 50-day moving average price of $125.60. Broadridge Financial Solutions, Inc. has a 12-month low of $91.34 and a 12-month high of $138.24. The stock has a market capitalization of $14.87 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.70.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, May 7th. The business services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in shares of Broadridge Financial Solutions by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock worth $811,304,000 after purchasing an additional 1,177,867 shares during the last quarter. Northern Trust Corp lifted its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,658,872 shares of the business services provider’s stock valued at $159,666,000 after acquiring an additional 19,433 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Broadridge Financial Solutions by 26.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,572,745 shares of the business services provider’s stock valued at $151,375,000 after acquiring an additional 332,615 shares in the last quarter. Deutsche Bank AG lifted its position in Broadridge Financial Solutions by 80.3% in the 4th quarter. Deutsche Bank AG now owns 1,501,941 shares of the business services provider’s stock valued at $144,559,000 after acquiring an additional 668,709 shares in the last quarter. Finally, Norges Bank bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $109,008,000. Institutional investors own 83.96% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Friday, May 10th. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 17th. DA Davidson lifted their price objective on shares of Broadridge Financial Solutions to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Raymond James boosted their price target on shares of Broadridge Financial Solutions from $125.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Finally, SunTrust Banks boosted their price target on shares of Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average price target of $126.00.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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