Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey Sells 11,000 Shares

Key Points

• Timothy C. Gokey, CEO of Broadridge Financial Solutions, sold 11,000 shares at an average price of $259.29, reducing his ownership by 6.64% to 154,634 shares valued at approximately $40.1 million.
• Broadridge recently declared a quarterly dividend of $0.975 per share, an increase from the previous dividend of $0.88, with an annualized yield of 1.5%.
• Analysts have varied ratings on Broadridge's stock, with price targets ranging from $250 to $305, reflecting a cautious outlook within the context of recent performance.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) CEO Timothy C. Gokey sold 11,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $259.29, for a total value of $2,852,190.00. Following the transaction, the chief executive officer owned 154,634 shares in the company, valued at $40,095,049.86. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Broadridge Financial Solutions Stock Performance

BR stock traded up $1.19 on Friday, reaching $260.42. 803,783 shares of the company were exchanged, compared to its average volume of 589,675. Broadridge Financial Solutions, Inc. has a 12 month low of $206.95 and a 12 month high of $271.91. The stock's fifty day moving average price is $245.10 and its 200 day moving average price is $239.62. The firm has a market capitalization of $30.50 billion, a PE ratio of 36.73 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, beating the consensus estimate of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.50 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.975 per share. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. Broadridge Financial Solutions's payout ratio is currently 49.65%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC increased their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $261.50.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently bought and sold shares of BR. Vident Advisory LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.9% during the second quarter. Vident Advisory LLC now owns 5,180 shares of the business services provider's stock worth $1,259,000 after buying an additional 146 shares in the last quarter. Voleon Capital Management LP grew its holdings in shares of Broadridge Financial Solutions by 2.8% during the second quarter. Voleon Capital Management LP now owns 11,555 shares of the business services provider's stock worth $2,808,000 after purchasing an additional 312 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Broadridge Financial Solutions by 8.7% during the second quarter. Tidal Investments LLC now owns 11,445 shares of the business services provider's stock worth $2,781,000 after purchasing an additional 916 shares during the last quarter. Scott Marsh Financial LLC bought a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $1,446,000. Finally, Snowden Capital Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 2,383 shares of the business services provider's stock worth $581,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

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.

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