Inside Sales: CEO of Broadridge Financial Solutions, Inc. (NYSE:BR) sells 25,000 shares

VaselineAugust 24, 2024

0 4 minutes read

Broadridge Financial Solutions, Inc. (NYSE:BR – Get Your Free Report ) CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $209.04 on Friday. The company has a market cap of $24.70 billion, a P/E ratio of 35.67 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company’s 50-day moving average price is $206.16 and its 200-day moving average price is $201.73. The company has a current ratio of 1.39, a quick ratio of 1.39, and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR – Get Free Report ) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted EPS of $3.21. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts estimate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Raises Dividend

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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, September 12. This is an increase from Broadridge Financial Solutions’ previous quarterly dividend of $0.80. This represents a dividend of $3.52 on an annualized basis and a dividend yield of 1.68%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Institutional inputs and outputs

Several institutional investors and hedge funds have recently modified their holdings of BR. Oregon Public Employees Retirement Fund raised its stake in shares of Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the period. Garrison Asset Management LLC boosted its holdings in Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after acquiring an additional 50 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC boosted its stake in Broadridge Financial Solutions by 4.5% in the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after acquiring an additional 51 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 , after acquiring another 52 shares in the last quarter. Finally, TIAA Trust National Association grew its holdings in Broadridge Financial Solutions by 1.0% in the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s shares.

The Wall Street analyst weighs in

A number of equities analysts recently weighed in on BR shares. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $213.33, based on data from MarketBeat.com.

Check out our latest research report on BR

Broadridge Financial Solutions Company Profile

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Broadridge Financial Solutions, Inc provides investor communications and technology-based solutions for the financial services industry. The Company’s Investor Communication Solutions segment processes and distributes proxy materials to equity and mutual fund investors and facilitates related vote processing services; and distributes regulatory reporting, class action and corporate event/reorganization information, as well as tax reporting solutions.