Palmer Knight Co Acquires 157 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Palmer Knight Co lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,925 shares of the business services provider’s stock after purchasing an additional 157 shares during the period. Broadridge Financial Solutions comprises 3.1% of Palmer Knight Co’s investment portfolio, making the stock its 19th largest holding. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $6,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BR. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC lifted its stake in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the period. Fortitude Family Office LLC lifted its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Down 0.9 %

Shares of Broadridge Financial Solutions stock opened at $235.74 on Thursday. The stock has a fifty day simple moving average of $230.87 and a 200 day simple moving average of $219.82. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $241.45. The company has a market capitalization of $27.56 billion, a P/E ratio of 40.79 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Wall Street Analysts Forecast Growth

BR has been the topic of several recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $226.71.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 in the last quarter. 1.30% of the stock is currently owned by company insiders.

About Broadridge Financial Solutions

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.