Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Palmer Knight Co

Palmer Knight Co grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 30,900 shares of the business services provider’s stock after buying an additional 179 shares during the period. Broadridge Financial Solutions comprises approximately 2.9% of Palmer Knight Co’s investment portfolio, making the stock its 21st biggest holding. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $6,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. LifeSteps Financial Inc. purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $32,000. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $32,000. Manchester Capital Management LLC raised its stake 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 purchasing an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of BR stock traded down $0.33 during mid-day trading on Friday, reaching $210.52. The company’s stock had a trading volume of 14,216 shares, compared to its average volume of 524,704. The company’s 50 day simple moving average is $208.25 and its 200-day simple moving average is $202.59. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $24.88 billion, a PE ratio of 35.98 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $3.21 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. In the last three months, insiders sold 94,914 shares of company stock valued at $19,815,248. Corporate insiders own 1.60% of the company’s stock.

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.