Park Place Capital Corp Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Park Place Capital Corp increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 51.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,829 shares of the business services provider's stock after acquiring an additional 2,998 shares during the quarter. Park Place Capital Corp's holdings in Broadridge Financial Solutions were worth $2,141,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nicolet Advisory Services LLC raised its stake in Broadridge Financial Solutions by 4.8% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after buying an additional 46 shares during the period. Continuum Advisory LLC raised its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares during the period. Advisors Capital Management LLC raised its position in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock worth $326,000 after purchasing an additional 49 shares during the period. TCTC Holdings LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock worth $1,352,000 after purchasing an additional 52 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its position in Broadridge Financial Solutions by 2.8% in the 4th quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider's stock valued at $446,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BR shares. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Up 0.2%

Broadridge Financial Solutions stock traded up $0.42 during trading on Friday, hitting $239.59. 527,705 shares of the company were exchanged, compared to its average volume of 525,377. The company has a market capitalization of $28.14 billion, a P/E ratio of 36.03 and a beta of 0.96. The business's 50 day moving average is $238.69 and its 200 day moving average is $235.31. Broadridge Financial Solutions, Inc. has a 52 week low of $195.64 and a 52 week high of $247.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the sale, the insider now directly owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director now directly owns 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company's stock.

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.