Broadridge Financial Solutions, Inc. (NYSE:BR) insider Robert Schifellite sold 49,181 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $89.47, for a total value of $4,400,224.07. Following the completion of the sale, the insider now directly owns 149,181 shares in the company, valued at $13,347,224.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Broadridge Financial Solutions, Inc. (BR) opened at $89.38 on Wednesday. The firm has a market capitalization of $10,434.95, a PE ratio of 26.89, a P/E/G ratio of 2.41 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70. Broadridge Financial Solutions, Inc. has a 12 month low of $64.83 and a 12 month high of $91.75.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. Broadridge Financial Solutions’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. equities analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is 50.87%.
Hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $144,000. Acrospire Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $108,000. Toronto Dominion Bank boosted its stake in shares of Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares in the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on BR shares. Barclays raised their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial reaffirmed a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. ValuEngine lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, DA Davidson reaffirmed a “hold” rating and issued a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $90.50.
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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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