Victory Capital Management Inc. Buys 26,844 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Victory Capital Management Inc. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 55.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,544 shares of the business services provider's stock after purchasing an additional 26,844 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Broadridge Financial Solutions worth $18,316,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Whipplewood Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after buying an additional 46 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $1.06 during mid-day trading on Friday, hitting $254.05. The company's stock had a trading volume of 1,815,742 shares, compared to its average volume of 562,551. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $29.84 billion, a P/E ratio of 38.20 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $206.29 and a twelve month high of $257.65. The stock's fifty day moving average price is $240.60 and its two-hundred day moving average price is $237.11.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 earnings per share. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.39%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider owned 1,070 shares in the company, valued at approximately $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC began coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Company 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.