Broadridge Financial Solutions, Inc. (NYSE:BR – Get Free Report) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Thursday, December 10th will be paid a dividend of $1.09 per share by the business services provider on Monday, January 11th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, December 10th.
Broadridge Financial Solutions has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 18 consecutive years. Broadridge Financial Solutions has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadridge Financial Solutions to earn $11.67 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 37.4%.
Broadridge Financial Solutions Trading Down 0.1%
Shares of BR stock opened at $192.79 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 21.30 and a beta of 0.90. Broadridge Financial Solutions has a 52-week low of $133.83 and a 52-week high of $233.10. The company has a 50-day simple moving average of $172.76 and a two-hundred day simple moving average of $165.62.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 EPS. Research analysts anticipate that Broadridge Financial Solutions will post 10.58 EPS for the current fiscal year.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the sale, the vice president owned 8,800 shares of the company’s stock, valued at $1,405,888. The trade was a 22.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.00% of the company’s stock.
Institutional Trading of Broadridge Financial Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in BR. BlackRock Inc. bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $1,473,918,000. Jupiter Topco LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $261,852,000. Van ECK Associates Corp lifted its holdings in shares of Broadridge Financial Solutions by 11.3% in the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock worth $256,875,000 after buying an additional 190,301 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $197,921,000. Finally, Amundi boosted its position in shares of Broadridge Financial Solutions by 67.5% in the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock valued at $172,070,000 after acquiring an additional 426,587 shares during the period. 90.03% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.
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