Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Investors of record on Friday, September 15th will be given a dividend of 0.365 per share by the business services provider on Tuesday, October 3rd. This represents a $1.46 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, September 14th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33.
Broadridge Financial Solutions has raised its dividend by an average of 17.9% annually over the last three years and has raised its dividend every year for the last 9 years. Broadridge Financial Solutions has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Broadridge Financial Solutions to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 36.7%.
Broadridge Financial Solutions (BR) traded down 0.81% on Wednesday, reaching $79.83. The company had a trading volume of 35,407 shares. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 29.57 and a beta of 0.97. Broadridge Financial Solutions has a one year low of $59.86 and a one year high of $80.39. The company’s 50 day moving average is $76.53 and its 200-day moving average is $72.92.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The business’s revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. On average, equities research analysts expect that Broadridge Financial Solutions will post $3.71 earnings per share for the current fiscal year.
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In other news, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now directly owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the sale, the insider now directly owns 20,646 shares in the company, valued at $1,588,916.16. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
BR has been the topic of several research reports. BidaskClub raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. DA Davidson began coverage on Broadridge Financial Solutions in a research report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target on the stock. Finally, Barclays PLC boosted their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $76.00.
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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