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. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 68.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,397 shares of the business services provider's stock after purchasing an additional 17,672 shares during the quarter. Federated Hermes Inc.'s holdings in Broadridge Financial Solutions were worth $10,522,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nicolet Advisory Services LLC boosted its holdings 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 acquiring an additional 46 shares during the period. Continuum Advisory LLC boosted its holdings in Broadridge Financial Solutions by 48.4% during the 1st 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. Norden Group LLC boosted its holdings in Broadridge Financial Solutions by 2.6% during the 1st quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock valued at $449,000 after acquiring an additional 47 shares during the period. Crew Capital Management Ltd. boosted its holdings in Broadridge Financial Solutions by 2.4% during the 1st quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock valued at $490,000 after acquiring an additional 48 shares during the period. Finally, Advisors Capital Management LLC boosted its holdings 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 acquiring an additional 49 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider directly owned 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock worth $4,352,298 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE:BR opened at $244.61 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $206.29 and a 52-week high of $257.65. The firm has a market capitalization of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94. The stock has a 50 day moving average price of $241.40 and a 200-day moving average price of $237.92. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The business's revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $250.83.

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.

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