Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 50,736 shares of the business services provider's stock after acquiring an additional 2,871 shares during the quarter. Victory Capital Management Inc.'s holdings in Broadridge Financial Solutions were worth $10,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions in the third quarter worth $38,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $225.39 on Thursday. The firm has a market cap of $26.35 billion, a P/E ratio of 38.99 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $183.60 and a 12 month high of $230.00. The stock's fifty day moving average price is $216.78 and its 200-day moving average price is $208.75.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BR. Royal Bank of Canada restated an "outperform" rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $217.83.

Insider Activity

In other Broadridge Financial Solutions news, Director Leslie A. Brun sold 5,739 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $210.05, for a total value of $1,205,476.95. Following the completion of the sale, the director now owns 77,318 shares of the company's stock, valued at approximately $16,240,645.90. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction dated 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,033 shares of company stock worth $23,382,322. Company insiders own 1.30% of the company's stock.

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.