Broadridge Financial Solutions Inc. (BR) Shares Gap Up to $70.15
Broadridge Financial Solutions Inc. (NYSE:BR) shares gapped up prior to trading on Friday . The stock had previously closed at $69.88, but opened at $70.15. Broadridge Financial Solutions shares last traded at $70.54, with a volume of 167,053 shares changing hands.
A number of research analysts have recently issued reports on BR shares. Raymond James Financial Inc. cut shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Monday, July 4th. Barclays PLC cut shares of Broadridge Financial Solutions from an “overweight” rating to an “equal weight” rating and set a $67.00 target price for the company. in a research note on Thursday, July 7th. Finally, Avondale Partners cut shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research note on Wednesday, June 15th.
The company has a market capitalization of $8.39 billion and a PE ratio of 28.03. The firm has a 50-day moving average of $68.21 and a 200-day moving average of $62.68.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. During the same period in the prior year, the company earned $1.40 earnings per share. The company earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions Inc. will post $3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, September 13th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.86%.
In other Broadridge Financial Solutions news, insider Robert Schifellite sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $69.30, for a total transaction of $623,700.00. Following the transaction, the insider now owns 82,937 shares in the company, valued at approximately $5,747,534.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert F. Kalenka sold 53,818 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $68.96, for a total transaction of $3,711,289.28. Following the transaction, the insider now owns 52,447 shares in the company, valued at approximately $3,616,745.12. The disclosure for this sale can be found here.
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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.
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