Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey Sells 95,956 Shares of Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.20 during midday trading on Wednesday, reaching $226.13. 163,827 shares of the company traded hands, compared to its average volume of 471,178. The business has a 50 day moving average of $235.49 and a two-hundred day moving average of $225.78. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 35.34 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business earned $0.92 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BR. Principal Financial Group Inc. lifted its holdings in Broadridge Financial Solutions by 4.3% during the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider’s stock valued at $33,898,000 after purchasing an additional 6,552 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at about $260,000. Assetmark Inc. lifted its position in shares of Broadridge Financial Solutions by 130.0% in the third quarter. Assetmark Inc. now owns 667 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 377 shares in the last quarter. Atria Investments Inc grew its position in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $7,033,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BR shares. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $239.17.

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.