Kayne Anderson Rudnick Investment Management LLC Reduces Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Broadridge Financial Solutions by 1.5%, selling 12,674 shares, and now holds 857,126 shares valued at approximately $207.8 million.
• CEO Timothy C. Gokey sold 11,000 shares of the company at an average price of $259.29, resulting in a decrease of about 6.64% in his ownership.
• Broadridge Financial Solutions recently announced a quarterly dividend increase from $0.88 to $0.975, with a payout ratio of 49.65% and a yield of 1.5%.

Kayne Anderson Rudnick Investment Management LLC trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 857,126 shares of the business services provider's stock after selling 12,674 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.73% of Broadridge Financial Solutions worth $207,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BR. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $580,000. Guggenheim Capital LLC increased its position in shares of Broadridge Financial Solutions by 16.6% in the fourth quarter. Guggenheim Capital LLC now owns 1,895 shares of the business services provider's stock worth $428,000 after purchasing an additional 270 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Broadridge Financial Solutions by 351.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,445 shares of the business services provider's stock worth $327,000 after purchasing an additional 1,125 shares during the last quarter. State of Tennessee Department of Treasury increased its position in shares of Broadridge Financial Solutions by 62.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 24,574 shares of the business services provider's stock worth $5,556,000 after purchasing an additional 9,404 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Broadridge Financial Solutions by 34.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 87,700 shares of the business services provider's stock worth $19,828,000 after purchasing an additional 22,700 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the sale, the chief executive officer owned 165,634 shares of the company's stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares of the company's stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,088 shares of company stock worth $39,281,601. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BR. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC increased their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Trading Down 0.1%

Shares of Broadridge Financial Solutions stock traded down $0.36 on Friday, hitting $256.71. The stock had a trading volume of 166,453 shares, compared to its average volume of 591,245. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $206.95 and a one year high of $271.91. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of 36.21 and a beta of 0.94. The stock's 50-day simple moving average is $248.99 and its two-hundred day simple moving average is $241.03.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results 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 net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the business earned $3.50 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 49.65%.

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.