Kayne Anderson Rudnick Investment Management LLC Has $196.65 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kayne Anderson Rudnick Investment Management LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 869,800 shares of the business services provider's stock after buying an additional 53,309 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.74% of Broadridge Financial Solutions worth $196,653,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BR. World Investment Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 10.9% in the third quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider's stock valued at $909,000 after buying an additional 416 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $3,530,000. Tidal Investments LLC boosted its stake in Broadridge Financial Solutions by 43.7% in the 3rd quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider's stock worth $3,290,000 after purchasing an additional 4,654 shares during the period. American Trust bought a new position in Broadridge Financial Solutions during the 3rd quarter worth about $2,233,000. Finally, Principal Financial Group Inc. raised its stake in shares of Broadridge Financial Solutions by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider's stock valued at $33,898,000 after purchasing an additional 6,552 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BR. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Tuesday. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. DA Davidson restated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price 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. Finally, Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $241.00.

Broadridge Financial Solutions Stock Up 0.8 %

Shares of NYSE:BR traded up $1.78 during midday trading on Thursday, hitting $238.04. The stock had a trading volume of 334,241 shares, compared to its average volume of 522,565. The company has a market cap of $27.86 billion, a P/E ratio of 37.25 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The business's 50-day simple moving average is $234.60 and its 200-day simple moving average is $230.35. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm posted $0.92 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a $0.88 dividend. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions's payout ratio is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 22,357 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction 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 this link. Also, VP Laura Matlin sold 514 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% 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.