Ipswich Investment Management Co. Inc. Purchases Shares of 1,490 Broadridge Financial Solutions, Inc. (NYSE:BR)

Ipswich Investment Management Co. Inc. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,490 shares of the business services provider’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BR. Whipplewood Advisors LLC increased its holdings in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $34,000. Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $36,000. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $45,000. Finally, Promus Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $52,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE:BR opened at $236.94 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01. The company’s 50-day moving average price is $237.39 and its two-hundred day moving average price is $235.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.83 billion, a P/E ratio of 37.08 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.23 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider now directly owns 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock valued at $4,352,298 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. 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 target price on the stock. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions 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.