Timothy C. Gokey Sells 39,251 Shares of Broadridge Financial Solutions (NYSE:BR) Stock

Key Points

• CEO Timothy C. Gokey sold 39,251 shares of Broadridge Financial Solutions stock for approximately $10.3 million, reducing his ownership by 20.70%.
• Broadridge Financial Solutions reported a quarterly earnings per share of $3.55, beating estimates, and announced an increased quarterly dividend of $0.975 per share.
• The company's stock has a market cap of $30.50 billion and received varied analyst ratings, with price targets ranging from $222 to $305.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) CEO Timothy C. Gokey sold 39,251 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $262.46, for a total transaction of $10,301,817.46. Following the completion of the transaction, the chief executive officer owned 150,374 shares in the company, valued at $39,467,160.04. This represents a 20.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Broadridge Financial Solutions Trading Down 0.2%

BR traded down $0.6240 during trading on Wednesday, reaching $262.2960. 866,030 shares of the company's stock were exchanged, compared to its average volume of 1,007,914. The company's fifty day moving average price is $246.55 and its 200-day moving average price is $240.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.95 and a fifty-two week high of $271.91. The firm has a market capitalization of $30.72 billion, a PE ratio of 37.00 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm's revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Institutional Trading of Broadridge Financial Solutions

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,031,420 shares of the business services provider's stock worth $3,653,086,000 after acquiring an additional 298,273 shares during the last quarter. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 0.6% in the second quarter. State Street Corp now owns 5,642,154 shares of the business services provider's stock worth $1,376,006,000 after purchasing an additional 35,061 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 4.3% during the second quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider's stock worth $797,031,000 after purchasing an additional 136,386 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Broadridge Financial Solutions by 3.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider's stock valued at $425,610,000 after purchasing an additional 61,659 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and an average price target of $261.50.

About Broadridge Financial Solutions

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.