New England Research & Management Inc. Acquires New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

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

Other institutional investors have also recently bought and sold shares of the company. Procyon Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 2.3% in the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider's stock valued at $477,000 after purchasing an additional 52 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Broadridge Financial Solutions by 0.3% in the fourth 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 purchasing an additional 52 shares during the last quarter. Optas LLC raised its holdings in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider's stock valued at $322,000 after purchasing an additional 57 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider's stock valued at $328,000 after purchasing an additional 58 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider's stock worth $34,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded down $2.21 during trading hours on Friday, reaching $197.00. The stock had a trading volume of 1,005,172 shares, compared to its average volume of 501,744. The stock's fifty day simple moving average is $198.10 and its 200 day simple moving average is $199.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12 month low of $161.33 and a 12 month high of $210.24. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $2.05 earnings per share. Broadridge Financial Solutions's revenue 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 year.

Broadridge Financial Solutions Dividend Announcement

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

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company's stock, valued at $1,875,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions 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 transaction, the vice president now directly owns 9,361 shares of the company's stock, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. DA Davidson restated a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Friday, June 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday. Finally, Evercore ISI reiterated an "outperform" rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $206.67.

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.