7,150 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by New England Research & Management Inc.

New England Research & Management Inc. acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,150 shares of the business services provider’s stock, valued at approximately $1,465,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Procyon Advisors LLC raised its holdings in Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after purchasing an additional 52 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Broadridge Financial Solutions by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after acquiring an additional 52 shares during the period. Optas LLC increased its holdings in shares of Broadridge Financial Solutions by 3.8% in the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 57 shares during the period. Signaturefd LLC increased its holdings in shares of Broadridge Financial Solutions by 3.8% in the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after acquiring an additional 58 shares during the period. Finally, Manchester Capital Management LLC increased its stake in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the topic of several recent research reports. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Evercore ISI reissued an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five research 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 $206.67.

Insider Activity

In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $197.00 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $161.33 and a 52 week high of $210.24. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm’s 50-day simple moving average is $198.10 and its 200 day simple moving average is $199.91. The firm has a market capitalization of $23.28 billion, a PE ratio of 33.62 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

About Broadridge Financial Solutions

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.