Victory Capital Management Inc. Has $10.91 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Victory Capital Management Inc. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,736 shares of the business services provider’s stock after purchasing an additional 2,871 shares during the period. Victory Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $10,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the second quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2 %

BR stock opened at $225.39 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market cap of $26.35 billion, a PE ratio of 38.99 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $183.60 and a 1 year high of $230.00. The company has a fifty day simple moving average of $216.78 and a 200 day simple moving average of $208.75.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The firm’s revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,033 shares of company stock valued at $23,382,322. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions 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.