Palmer Knight Co Sells 45 Shares of Broadridge Financial Solutions, Inc. $BR

Palmer Knight Co lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,370 shares of the business services provider’s stock after selling 45 shares during the quarter. Broadridge Financial Solutions comprises 3.1% of Palmer Knight Co’s portfolio, making the stock its 19th biggest holding. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $7,381,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Swmg LLC grew its holdings in Broadridge Financial Solutions by 16.0% during the 2nd quarter. Swmg LLC now owns 3,621 shares of the business services provider’s stock valued at $914,000 after buying an additional 500 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in Broadridge Financial Solutions by 17.7% during the 2nd quarter. Koshinski Asset Management Inc. now owns 6,993 shares of the business services provider’s stock valued at $1,700,000 after buying an additional 1,050 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in Broadridge Financial Solutions by 15.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 1,082 shares of the business services provider’s stock valued at $263,000 after buying an additional 144 shares in the last quarter. Nicholson Wealth Management Group LLC grew its holdings in Broadridge Financial Solutions by 1.8% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,677 shares of the business services provider’s stock valued at $1,623,000 after buying an additional 118 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in shares of Broadridge Financial Solutions by 1.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 62,043 shares of the business services provider’s stock worth $15,078,000 after purchasing an additional 672 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR opened at $228.97 on Friday. The business has a fifty day moving average of $246.88 and a 200 day moving average of $242.17. Broadridge Financial Solutions, Inc. has a 52-week low of $208.20 and a 52-week high of $271.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The stock has a market cap of $26.73 billion, a P/E ratio of 32.30 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company had revenue of $1.05 billion during the quarter. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were given a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

Analyst Ratings Changes

A number of brokerages have recently commented on BR. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Needham & Company LLC lifted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $261.50.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,532 shares of company stock valued at $38,417,208. 1.10% of the stock is currently owned by corporate insiders.

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.