Insider Selling: Broadridge Financial Solutions (NYSE:BR) Director Sells $610,210.20 in Stock

Key Points

• Director Maura Markus sold 3,180 Broadridge shares for $610,210, reducing her stake by 8.61% to 33,769 shares. The sale was made under a pre-arranged Rule 10b5-1 plan.
• Broadridge beat quarterly earnings and revenue expectations, reporting EPS of $1.56 and revenue of $1.67 billion; revenue rose 5% year over year.
• The company declared a quarterly dividend of $1.09 per share, equivalent to a 2.3% yield. Analysts’ consensus rating was “Moderate Buy,” with a $212.71 average price target.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) Director Maura Markus sold 3,180 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $191.89, for a total value of $610,210.20. Following the sale, the director directly owned 33,769 shares in the company, valued at approximately $6,479,933.41. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Broadridge Financial Solutions Stock Performance

BR stock traded up $0.39 on Thursday, reaching $193.24. The company's stock had a trading volume of 246,212 shares, compared to its average volume of 1,317,627. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $233.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $21.86 billion, a P/E ratio of 21.34 and a beta of 0.90. The firm has a fifty day moving average of $172.76 and a two-hundred day moving average of $165.62.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.19. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.51 EPS. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Thursday, December 10th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, December 10th. Broadridge Financial Solutions's payout ratio is currently 48.18%.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently made changes to their positions in BR. First Trust Advisors LP boosted its holdings in Broadridge Financial Solutions by 11.8% during the third quarter. First Trust Advisors LP now owns 362,497 shares of the business services provider's stock worth $58,398,000 after buying an additional 38,362 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at $227,000. Advisors Asset Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $7,657,000. Private Wealth Asset Management LLC lifted its position in shares of Broadridge Financial Solutions by 1,161.3% during the 3rd quarter. Private Wealth Asset Management LLC now owns 16,006 shares of the business services provider's stock valued at $2,579,000 after acquiring an additional 14,737 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $490,000. Institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an "equal weight" rating in a report on Wednesday, November 4th. Royal Bank Of Canada raised their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Finally, Weiss Ratings raised Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $212.71.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company's services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.

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