Broadridge Financial Solutions, Inc. (NYSE:BR) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,700 shares of the business services provider's stock after selling 2,036 shares during the period. Victory Capital Management Inc.'s holdings in Broadridge Financial Solutions were worth $11,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alley Investment Management Company LLC lifted its position in shares of Broadridge Financial Solutions by 0.3% during the fourth quarter. Alley Investment Management Company LLC now owns 51,661 shares of the business services provider's stock worth $11,680,000 after purchasing an additional 148 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Broadridge Financial Solutions by 2.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider's stock worth $255,442,000 after buying an additional 29,483 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,789 shares of the business services provider's stock worth $154,824,000 after acquiring an additional 23,376 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Broadridge Financial Solutions by 10.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,178 shares of the business services provider's stock valued at $3,205,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. raised its position in shares of Broadridge Financial Solutions by 1.7% during the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 18,267 shares of the business services provider's stock valued at $4,146,000 after acquiring an additional 304 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $3.56 during mid-day trading on Monday, hitting $231.21. 765,512 shares of the company's stock traded hands, compared to its average volume of 472,939. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a market cap of $27.06 billion, a PE ratio of 36.18 and a beta of 1.05. The firm has a 50 day moving average price of $235.40 and a 200 day moving average price of $226.11. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company earned $0.92 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company's stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 over the last quarter. 1.30% of the stock is currently owned by company insiders.

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.