Federated Hermes Inc. Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Federated Hermes Inc. boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,725 shares of the business services provider’s stock after purchasing an additional 8,656 shares during the quarter. Federated Hermes Inc.’s holdings in Broadridge Financial Solutions were worth $5,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Adero Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC increased its stake in Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after acquiring an additional 46 shares during the last quarter. Nicolet Advisory Services LLC increased its stake in Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after acquiring an additional 46 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC boosted its position in shares of Broadridge Financial Solutions by 0.9% during the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $231.56 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01. The company has a fifty day moving average of $235.60 and a 200-day moving average of $229.30. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 36.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the business earned $0.92 earnings per share. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last three months. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $241.00.

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.