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

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. 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.

A number of other large investors have also recently added to or reduced their stakes in the business. Adero Partners LLC boosted its holdings in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock worth $415,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its position in Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock worth $229,000 after purchasing an additional 46 shares in the last quarter. Nicolet Advisory Services LLC raised its stake in Broadridge Financial Solutions by 4.8% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after purchasing an additional 46 shares during the period. Advisors Capital Management LLC raised its stake in Broadridge Financial Solutions by 3.5% during the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after purchasing an additional 49 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after purchasing an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider now owns 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,358 shares of company stock worth $31,453,259. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Up 0.1%

Shares of NYSE:BR traded up $0.16 during trading on Wednesday, reaching $240.15. 385,480 shares of the company traded hands, compared to its average volume of 529,331. The firm has a fifty day simple moving average of $235.56 and a 200 day simple moving average of $233.87. The firm has a market cap of $28.21 billion, a P/E ratio of 37.58 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. 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 issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BR. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Needham & Company LLC began coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley increased 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Company Profile

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.