Broadridge Financial Solutions (NYSE:BR) Stock: Insider Thomas Carey Sells 2,501 Shares

Key Points

• Insider sale: Broadridge VP Thomas Carey sold 2,501 shares at an average of $159.76, reducing his position by 22.13%. The sale was made to cover tax withholding on vested equity awards.
• Financial performance: Broadridge reported quarterly EPS of $3.82, exceeding estimates of $3.76, while revenue rose 7.5% year over year to $2.22 billion.
• Dividend increase: The company raised its quarterly dividend to $1.09 per share, equivalent to $4.36 annually and a 2.7% yield.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) VP Thomas Carey sold 2,501 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Broadridge Financial Solutions Stock Up 1.3%

Shares of NYSE:BR traded up $2.11 during trading hours on Monday, hitting $159.04. The company's stock had a trading volume of 702,134 shares, compared to its average volume of 1,371,644. The firm's fifty day moving average price is $168.95 and its 200 day moving average price is $158.01. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $238.73. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The company's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be given a dividend of $1.09 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 annualized dividend and a yield of 2.7%. Broadridge Financial Solutions's payout ratio is 45.32%.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $1,473,918,000. Barclays PLC lifted its stake in shares of Broadridge Financial Solutions by 1.8% during the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider's stock worth $448,118,000 after buying an additional 35,169 shares during the period. Jupiter Topco LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $261,852,000. Van ECK Associates Corp grew its holdings in shares of Broadridge Financial Solutions by 11.3% during the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock valued at $256,875,000 after buying an additional 190,301 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $197,921,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Royal Bank Of Canada raised their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, August 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Moderate Buy" and an average target price of $216.00.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company's services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.

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