Palmer Knight Co Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Palmer Knight Co lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 30,768 shares of the business services provider’s stock after selling 132 shares during the quarter. Broadridge Financial Solutions makes up approximately 2.9% of Palmer Knight Co’s holdings, making the stock its 21st biggest holding. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $6,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its stake in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after purchasing an additional 45 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC boosted its stake in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after buying an additional 50 shares during the last quarter. TIAA Trust National Association grew its holdings in Broadridge Financial Solutions by 1.0% in the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after buying an additional 52 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,713 shares of company stock valued at $27,967,456. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $221.18 on Friday. The company’s fifty day simple moving average is $214.04 and its 200-day simple moving average is $206.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52 week low of $175.21 and a 52 week high of $225.29. The company has a market cap of $25.85 billion, a PE ratio of 37.74 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Analyst Upgrades and Downgrades

BR has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.83.

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.