Insider Selling: Broadridge Financial Solutions (NYSE:BR) VP Sells $2,341,661.64 in Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) VP Thomas Carey sold 10,214 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the transaction, the vice president directly owned 6,026 shares in the company, valued at approximately $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Broadridge Financial Solutions Stock Up 0.3%

Shares of BR traded up $0.77 during trading on Thursday, reaching $231.23. The company’s stock had a trading volume of 303,540 shares, compared to its average volume of 615,671. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 29.62 and a beta of 0.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91. The company has a fifty day moving average of $228.80 and a two-hundred day moving average of $240.47.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The business had revenue of $1.05 billion for the quarter. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BR shares. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Needham & Company LLC increased their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. UBS Group cut their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. DA Davidson reissued a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $259.83.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of BR. Vanguard Group Inc. raised its holdings in shares of Broadridge Financial Solutions by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,296,040 shares of the business services provider’s stock valued at $3,643,058,000 after purchasing an additional 264,620 shares in the last quarter. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 0.6% in the second quarter. State Street Corp now owns 5,642,154 shares of the business services provider’s stock worth $1,376,006,000 after buying an additional 35,061 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Broadridge Financial Solutions by 692.3% during the 3rd quarter. Alliancebernstein L.P. now owns 3,690,705 shares of the business services provider’s stock worth $879,015,000 after acquiring an additional 3,224,891 shares in the last quarter. Geode Capital Management LLC grew its holdings in Broadridge Financial Solutions by 4.3% during the second quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock valued at $797,031,000 after purchasing an additional 136,386 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Broadridge Financial Solutions by 0.7% in the third quarter. Barclays PLC now owns 1,972,799 shares of the business services provider’s stock worth $469,862,000 after buying an additional 14,631 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

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.