Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,129 shares of the business services provider’s stock after selling 551 shares during the period. New England Research & Management Inc.’s holdings in Broadridge Financial Solutions were worth $1,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BR. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new position in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions during the first quarter valued at about $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of Broadridge Financial Solutions stock traded down $0.15 during trading on Monday, reaching $215.18. 385,027 shares of the company traded hands, compared to its average volume of 528,402. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The company has a 50 day moving average price of $211.75 and a 200-day moving average price of $204.15. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $25.43 billion, a PE ratio of 36.72 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.21 EPS. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Analyst Upgrades and Downgrades

BR has been the topic of a number of analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Company Profile

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.