Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be paid a dividend of 0.485 per share by the business services provider on Thursday, January 3rd. This represents a $1.94 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 13th.
Broadridge Financial Solutions has increased its dividend by an average of 14.6% per year over the last three years and has increased its dividend every year for the last 10 years. Broadridge Financial Solutions has a payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $5.08 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 38.2%.
Shares of Broadridge Financial Solutions stock opened at $98.64 on Friday. The stock has a market cap of $11.76 billion, a PE ratio of 23.54, a PEG ratio of 2.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.69 and a quick ratio of 1.69. Broadridge Financial Solutions has a 52-week low of $87.51 and a 52-week high of $138.24.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $126.61, for a total value of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at approximately $29,585,338.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total value of $27,774,242.32. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders sold a total of 334,256 shares of company stock worth $43,588,422 over the last three months. 2.30% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on BR shares. SunTrust Banks started coverage on Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price target for the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, August 10th. Finally, Rosenblatt Securities assumed coverage on Broadridge Financial Solutions in a report on Wednesday. They set a “neutral” rating and a $110.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $118.33.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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