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Retirement Planning Co of New England Inc. Invests $432,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Broadridge Financial Solutions logo with Computer and Technology background

Retirement Planning Co of New England Inc. bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,780 shares of the business services provider's stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $29,000. Whipplewood Advisors LLC increased its holdings in Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $34,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 1.1%

Shares of BR opened at $237.36 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $200.63 and a one year high of $247.01. The company has a market cap of $27.88 billion, a P/E ratio of 35.69 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a 50 day simple moving average of $239.72 and a two-hundred day simple moving average of $236.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 earnings per share. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions's payout ratio is presently 52.93%.

Insider Activity

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the sale, the director owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider directly owned 1,070 shares in the company, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BR has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus target price of $250.83.

Get Our Latest Stock Report on Broadridge Financial Solutions

About Broadridge Financial Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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