Victory Capital Management Inc. Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Victory Capital Management Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,700 shares of the business services provider’s stock after selling 2,036 shares during the quarter. Victory Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $11,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Qsemble Capital Management LP purchased a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $1,412,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after acquiring an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth $2,251,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BR. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $225.33 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The business’s 50-day simple moving average is $235.46 and its 200 day simple moving average is $225.77. The company has a market cap of $26.37 billion, a P/E ratio of 35.26 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the company posted $0.92 earnings per share. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. 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 Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.