Broadridge Financial Solutions (NYSE:BR) VP Sells 2,501 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) VP Thomas Carey sold 2,501 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded up $2.11 during trading on Monday, hitting $159.04. The stock had a trading volume of 702,134 shares, compared to its average volume of 1,371,644. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $238.73. The stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. The stock has a 50-day simple moving average of $168.95 and a two-hundred day simple moving average of $158.01.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.06. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be issued a $1.09 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.7%. Broadridge Financial Solutions’s payout ratio is currently 45.32%.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Broadridge Financial Solutions during the second quarter valued at $1,473,918,000. Barclays PLC raised its position in shares of Broadridge Financial Solutions by 1.8% in the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider’s stock worth $448,118,000 after acquiring an additional 35,169 shares during the period. Jupiter Topco LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter worth about $261,852,000. Van ECK Associates Corp boosted its stake in shares of Broadridge Financial Solutions by 11.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock worth $256,875,000 after acquiring an additional 190,301 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $197,921,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company’s services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.