Broadridge Financial Solutions, Inc. (NYSE:BR) VP Thomas P. Carey Sells 3,607 Shares

Broadridge Financial Solutions, Inc. (NYSE:BR) VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president now directly owns 6,077 shares in the company, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Broadridge Financial Solutions Price Performance

BR stock opened at $240.28 on Friday. The firm has a 50 day moving average of $233.92 and a 200-day moving average of $232.41. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 37.60 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $2.23 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 52.93%.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Continuum Advisory LLC increased its stake in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.