Palmer Knight Co Has $6.16 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Palmer Knight Co trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,949 shares of the business services provider’s stock after selling 6,579 shares during the quarter. Broadridge Financial Solutions makes up approximately 3.7% of Palmer Knight Co’s portfolio, making the stock its 13th largest position. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $6,162,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Procyon Advisors LLC raised its position in Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 52 shares in the last quarter. Optas LLC raised its position in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 57 shares during the period. Signaturefd LLC raised its position in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after purchasing an additional 58 shares during the period. Teamwork Financial Advisors LLC raised its position in shares of Broadridge Financial Solutions by 1.6% in the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 63 shares during the period. Finally, Tributary Capital Management LLC raised its position in shares of Broadridge Financial Solutions by 1.6% in the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock valued at $900,000 after purchasing an additional 68 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Raymond James raised their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

BR traded up $1.90 during trading on Monday, reaching $196.05. 72,875 shares of the company’s stock were exchanged, compared to its average volume of 495,351. Broadridge Financial Solutions, Inc. has a fifty-two week low of $143.95 and a fifty-two week high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average price of $200.54 and a 200 day moving average price of $194.72. The company has a market capitalization of $23.09 billion, a P/E ratio of 34.13 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

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.