Federated Hermes Inc. Buys 29,980 Shares of Broadridge Financial Solutions, Inc. $BR

Federated Hermes Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 69.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,377 shares of the business services provider’s stock after buying an additional 29,980 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Broadridge Financial Solutions worth $17,833,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. NewSquare Capital LLC grew its stake in Broadridge Financial Solutions by 89.5% in the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after acquiring an additional 51 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares during the period. Bank of Jackson Hole Trust boosted its holdings in shares of Broadridge Financial Solutions by 110.3% in the second quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 64 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Broadridge Financial Solutions by 85.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, REAP Financial Group LLC increased its holdings in Broadridge Financial Solutions by 59.1% during the 2nd quarter. REAP Financial Group LLC now owns 148 shares of the business services provider’s stock worth $36,000 after purchasing an additional 55 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 0.7%

NYSE:BR opened at $226.99 on Thursday. The company’s 50-day simple moving average is $228.01 and its 200-day simple moving average is $240.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. Broadridge Financial Solutions, Inc. has a fifty-two week low of $212.33 and a fifty-two week high of $271.91. The stock has a market capitalization of $26.50 billion, a P/E ratio of 29.06 and a beta of 0.99.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is 49.94%.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,214 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total value of $2,341,661.64. Following the completion of the sale, the vice president directly owned 6,026 shares in the company, valued at approximately $1,381,520.76. This trade represents a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 3,984 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. This represents a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of several research reports. UBS Group lowered their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. DA Davidson reissued a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Morgan Stanley lowered 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, November 5th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $259.83.

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.