Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given 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 yield of 1.81%. 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 raised its dividend every year for the last 10 years. Broadridge Financial Solutions has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.
Broadridge Financial Solutions stock opened at $107.21 on Friday. The company has a market capitalization of $12.69 billion, a P/E ratio of 25.59, a PEG ratio of 2.32 and a beta of 0.95. Broadridge Financial Solutions has a 12-month low of $86.80 and a 12-month high of $138.24. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.93.
A number of equities research analysts have issued reports on BR shares. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, August 10th. Sandler O’Neill reaffirmed a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Finally, Wolfe Research started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $123.40.
In related news, CEO Richard J. Daly sold 47,192 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total value of $6,328,919.12. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at $51,945,630.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Daly sold 67,974 shares of the firm’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the completion of the transaction, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,354 shares of company stock valued at $42,709,350. Insiders own 2.30% of the company’s stock.
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About Broadridge Financial Solutions
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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