Keystone Financial Services Invests $210,000 in Broadridge Financial Solutions, Inc. $BR

Keystone Financial Services purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 863 shares of the business services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. NewSquare Capital LLC boosted its holdings in shares of Broadridge Financial Solutions by 89.5% in the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after acquiring an additional 51 shares during the period. ORG Partners LLC boosted its stake in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Broadridge Financial Solutions by 85.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Bank of Jackson Hole Trust increased its position in shares of Broadridge Financial Solutions by 110.3% during the second quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after buying an additional 64 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after buying an additional 117 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Up 2.0%

Shares of NYSE:BR opened at $221.83 on Friday. The firm has a market capitalization of $25.89 billion, a PE ratio of 28.40 and a beta of 0.96. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.98 and a current ratio of 0.93. Broadridge Financial Solutions, Inc. has a 52-week low of $212.33 and a 52-week high of $271.91. The firm has a fifty day moving average of $236.59 and a 200 day moving average of $241.73.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results 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 43.28% and a net margin of 13.11%.The firm had revenue of $1.05 billion during the quarter. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the transaction, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday. Morgan Stanley reduced their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Needham & Company LLC boosted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $264.83.

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.