Kayne Anderson Rudnick Investment Management LLC Has $157.74 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kayne Anderson Rudnick Investment Management LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 800,716 shares of the business services provider's stock after acquiring an additional 28,614 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.68% of Broadridge Financial Solutions worth $157,741,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BR. New England Research & Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $1,465,000. Bank of Nova Scotia lifted its position in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider's stock worth $16,707,000 after buying an additional 70,263 shares during the period. UBS Group AG boosted its stake in Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider's stock valued at $38,361,000 after buying an additional 14,147 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider's stock valued at $17,192,000 after acquiring an additional 43,710 shares during the period. Finally, Tidal Investments LLC raised its stake in Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider's stock worth $3,627,000 after acquiring an additional 8,837 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Trading Down 0.4 %

Shares of BR stock traded down $0.77 on Friday, hitting $208.22. The stock had a trading volume of 1,172,574 shares, compared to its average volume of 531,024. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The company has a fifty day moving average price of $210.46 and a two-hundred day moving average price of $203.34. The firm has a market cap of $24.61 billion, a P/E ratio of 35.53 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the previous year, the business posted $3.21 EPS. Broadridge Financial Solutions's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions's payout ratio is 60.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BR shares. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Finally, DA Davidson reissued a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $213.33.

Insider Activity

In other news, President Christopher John Perry sold 31,539 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company's stock, valued at approximately $13,938,374.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Richard J. Daly sold 21,938 shares of the company's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company's stock, valued at $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 over the last three months. Corporate insiders own 1.60% of the company's stock.

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.