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

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 800,716 shares of the business services provider’s stock after purchasing an additional 28,614 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.68% of Broadridge Financial Solutions worth $157,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at about $144,033,000. APG Asset Management US Inc. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $70,498,000. Norges Bank acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $67,605,000. Veritas Investment Partners UK Ltd. lifted its stake in Broadridge Financial Solutions by 16.9% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after purchasing an additional 147,293 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Broadridge Financial Solutions by 206.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock valued at $412,000 after buying an additional 134,911 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $208.22 on Friday. The stock’s 50 day moving average is $210.46 and its 200 day moving average is $203.34. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The firm has a market cap of $24.61 billion, a P/E ratio of 35.53 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.21 earnings per share. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. 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 research note on Tuesday, August 20th. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, DA Davidson reiterated a “neutral” rating and issued 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 given a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

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.