Cornercap Investment Counsel Inc. Acquires 2,839 Shares of Broadridge Financial Solutions, Inc. $BR

Cornercap Investment Counsel Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 86.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,141 shares of the business services provider’s stock after purchasing an additional 2,839 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Broadridge Financial Solutions were worth $1,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth $217,000. Nordea Investment Management AB grew its stake in shares of Broadridge Financial Solutions by 40.8% in the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after acquiring an additional 63,798 shares in the last quarter. Triangle Securities Wealth Management bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth $784,000. Abacus FCF Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth $12,865,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Broadridge Financial Solutions by 14.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,523 shares of the business services provider’s stock valued at $3,772,000 after buying an additional 1,952 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BR. Needham & Company LLC increased their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. 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. Finally, DA Davidson restated a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Three investment 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, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $264.83.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $218.54 on Thursday. The company has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52 week low of $212.33 and a 52 week high of $271.91. The company has a quick ratio of 0.98, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $238.07 and its two-hundred day simple moving average is $241.94.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Insider Buying and Selling

In other news, President Christopher John Perry sold 7,036 shares of the firm’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 transaction, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 84,571 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares of the company’s stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 147,532 shares of company stock valued at $38,417,208 over the last 90 days. 1.10% of the stock is 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.