Federated Hermes Inc. Acquires 1,169 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Federated Hermes Inc. lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 105.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,277 shares of the business services provider’s stock after purchasing an additional 1,169 shares during the period. Federated Hermes Inc.’s holdings in Broadridge Financial Solutions were worth $468,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BR. Stifel Financial Corp boosted its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after acquiring an additional 1,456,847 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after acquiring an additional 381,882 shares during the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at about $227,750,000. Assenagon Asset Management S.A. boosted its holdings in Broadridge Financial Solutions by 1,865.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after acquiring an additional 88,613 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Broadridge Financial Solutions by 307.8% in the third quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock valued at $19,833,000 after acquiring an additional 83,546 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last 90 days. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Raymond James raised their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $198.95 on Friday. The stock has a market cap of $23.43 billion, a P/E ratio of 34.66 and a beta of 0.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The stock’s 50-day moving average price is $200.32 and its two-hundred day moving average price is $194.93. Broadridge Financial Solutions, Inc. has a 1 year low of $144.54 and a 1 year high of $210.24.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.