Broadridge Financial Solutions, Inc. (NYSE:BR) President Christopher John Perry Sells 7,036 Shares

Key Points

• Christopher John Perry, President of Broadridge Financial Solutions, sold 7,036 shares of the company's stock for approximately $1.85 million, reducing his ownership by 12.6%.
• Broadridge recently announced a quarterly dividend increase to $0.975 per share, reflecting a 1.5% yield and a 49.65% payout ratio.
• The company reported a 6.2% revenue increase year-over-year, with earnings per share coming in at $3.55, surpassing analysts' expectations.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Broadridge Financial Solutions Stock Performance

BR traded down $1.00 during trading on Tuesday, hitting $262.47. The stock had a trading volume of 679,386 shares, compared to its average volume of 586,516. The company has a 50 day moving average price of $244.10 and a 200-day moving average price of $239.17. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of 37.02 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $271.91. 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 released its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The company's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.50 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $261.50.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds have recently modified their holdings of the company. NewSquare Capital LLC raised its position in shares of Broadridge Financial Solutions by 89.5% during the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider's stock worth $26,000 after acquiring an additional 51 shares during the last quarter. ORG Partners LLC increased its holdings in Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Bank of Jackson Hole Trust grew its stake in Broadridge Financial Solutions by 110.3% in the second quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider's stock valued at $30,000 after acquiring an additional 64 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Broadridge Financial Solutions by 85.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 57 shares during 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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