Federated Hermes Inc. Purchases 17,672 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Federated Hermes Inc. increased its stake in Broadridge Financial Solutions by 68.7%, acquiring an additional 17,672 shares, bringing its total to 43,397 shares worth approximately $10.52 million.
• Insider Douglas Richard Deschutter sold 5,056 shares for over $1.2 million, marking a significant 19.28% reduction in his position.
• The company disclosed a quarterly dividend of $0.88 per share, representing an annualized yield of 1.4% and a payout ratio of 52.93%.

Federated Hermes Inc. increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 68.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,397 shares of the business services provider's stock after buying an additional 17,672 shares during the period. Federated Hermes Inc.'s holdings in Broadridge Financial Solutions were worth $10,522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the first quarter worth approximately $29,000. Whipplewood Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after acquiring an additional 131 shares during the period. Continuum Advisory LLC boosted its position in shares of Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares during the period. Olde Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider directly owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,048 shares of company stock valued at $4,101,083. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $1.47 during mid-day trading on Wednesday, hitting $266.80. 621,129 shares of the company were exchanged, compared to its average volume of 578,327. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average of $242.14 and a 200 day moving average of $238.28. Broadridge Financial Solutions, Inc. has a 1-year low of $206.29 and a 1-year high of $269.14. The company has a market capitalization of $31.34 billion, a PE ratio of 40.09 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $3.50 earnings per share. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a $0.975 dividend. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Analyst Ratings Changes

BR has been the subject of several research reports. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $258.17.

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.