Alan J. Weber Sells 3,770 Shares of Broadridge Financial Solutions Inc. (BR) Stock
Broadridge Financial Solutions Inc. (NYSE:BR) Director Alan J. Weber sold 3,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $66.32, for a total value of $250,026.40. Following the completion of the transaction, the director now directly owns 32,668 shares in the company, valued at approximately $2,166,541.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Broadridge Financial Solutions Inc. (NYSE:BR) traded down 2.17% during mid-day trading on Wednesday, reaching $65.44. The company’s stock had a trading volume of 201,577 shares. Broadridge Financial Solutions Inc. has a 1-year low of $48.56 and a 1-year high of $71.74. The firm has a 50 day moving average price of $64.38 and a 200-day moving average price of $66.13. The company has a market capitalization of $7.79 billion, a PE ratio of 25.87 and a beta of 1.10.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, November 9th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. Broadridge Financial Solutions had a return on equity of 34.10% and a net margin of 9.62%. The firm had revenue of $895 million for the quarter, compared to the consensus estimate of $880.41 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s quarterly revenue was up 50.4% on a year-over-year basis. On average, equities analysts predict that Broadridge Financial Solutions Inc. will post $3.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 52.17%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Broadridge Financial Solutions by 35.3% in the second quarter. BlackRock Fund Advisors now owns 5,502,944 shares of the company’s stock worth $358,792,000 after buying an additional 1,436,828 shares in the last quarter. Bank of New York Mellon Corp increased its position in Broadridge Financial Solutions by 67.4% in the second quarter. Bank of New York Mellon Corp now owns 2,457,241 shares of the company’s stock worth $160,211,000 after buying an additional 989,508 shares in the last quarter. Fiera Capital Corp purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $51,374,000. Riverhead Capital Management LLC increased its position in Broadridge Financial Solutions by 4,441.2% in the second quarter. Riverhead Capital Management LLC now owns 803,789 shares of the company’s stock worth $7,379,000 after buying an additional 786,089 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $48,197,000. 83.65% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Barclays PLC upped their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Atlantic Securities assumed coverage on Broadridge Financial Solutions in a report on Tuesday, September 13th. They set an “overweight” rating and a $82.00 price objective on the stock. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, Sandler O’Neill lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a report on Thursday, September 29th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $72.60.
About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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