Timothy C. Gokey Sells 95,956 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) Stock

Broadridge Financial Solutions, Inc. (NYSE:BR) CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Broadridge Financial Solutions Price Performance

BR opened at $227.76 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50 day simple moving average is $235.43 and its 200-day simple moving average is $225.77. The stock has a market capitalization of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period last year, the company earned $0.92 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

BR has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $239.17.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently bought and sold shares of the business. Adero Partners LLC lifted its holdings in Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC lifted its holdings in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after buying an additional 46 shares during the period. Nicolet Advisory Services LLC raised its holdings in Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after purchasing an additional 46 shares during the period. Avestar Capital LLC raised its holdings in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after purchasing an additional 48 shares during the period. Finally, Advisors Capital Management LLC raised its holdings in Broadridge Financial Solutions by 3.5% in the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock worth $326,000 after purchasing an additional 49 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Company Profile

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.