Insider Selling: Broadridge Financial Solutions, Inc. (BR) Insider Sells $7,706,496.05 in Stock
Broadridge Financial Solutions, Inc. (NYSE:BR) insider Richard J. Daly sold 94,039 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 82.59 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $82.80. The company has a market cap of $9.62 billion, a P/E ratio of 30.59 and a beta of 0.99. The firm has a 50-day moving average price of $80.09 and a 200-day moving average price of $74.97.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The company’s revenue was up 38.1% on a year-over-year basis. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were paid a $0.365 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.77%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s payout ratio is currently 53.48%.
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Several institutional investors and hedge funds have recently modified their holdings of BR. Acrospire Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth $108,000. Toronto Dominion Bank grew its holdings in shares of Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after acquiring an additional 149 shares during the period. Global X Management Co. LLC grew its holdings in shares of Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after acquiring an additional 120 shares during the period. Advisory Services Network LLC grew its holdings in shares of Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after acquiring an additional 706 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in shares of Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after acquiring an additional 600 shares during the period. 83.72% of the stock is owned by institutional investors.
BR has been the subject of several recent research reports. BidaskClub upgraded Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. DA Davidson initiated coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They set a “neutral” rating and a $74.00 price target for the company. Finally, Barclays PLC upped their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th.
About Broadridge Financial Solutions
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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