Victory Capital Management Inc. Sells 2,122 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Victory Capital Management Inc. decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,724 shares of the business services provider’s stock after selling 2,122 shares during the quarter. Victory Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $4,306,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. CSat Investment Advisory L.P. raised its stake in Broadridge Financial Solutions by 35.9% in the second quarter. CSat Investment Advisory L.P. now owns 348 shares of the business services provider’s stock worth $45,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC raised its stake in Broadridge Financial Solutions by 1.0% in the first quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock worth $1,239,000 after buying an additional 118 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Broadridge Financial Solutions by 3.4% in the second quarter. SeaCrest Wealth Management LLC now owns 3,621 shares of the business services provider’s stock worth $462,000 after buying an additional 118 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Broadridge Financial Solutions by 2.7% in the second quarter. Tocqueville Asset Management L.P. now owns 4,499 shares of the business services provider’s stock worth $574,000 after buying an additional 118 shares in the last quarter. Finally, Hartford Investment Management Co. raised its stake in Broadridge Financial Solutions by 1.0% in the second quarter. Hartford Investment Management Co. now owns 12,816 shares of the business services provider’s stock worth $1,636,000 after buying an additional 130 shares in the last quarter. 88.33% of the stock is owned by institutional investors.

Shares of BR stock traded up $0.11 during trading hours on Thursday, reaching $121.74. 16,219 shares of the company’s stock were exchanged, compared to its average volume of 462,883. The stock’s 50 day moving average is $127.20 and its 200-day moving average is $122.91. The company has a market cap of $14.22 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.43 and a beta of 0.70. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.30. Broadridge Financial Solutions, Inc. has a fifty-two week low of $91.34 and a fifty-two week high of $136.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 5.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.77%. Broadridge Financial Solutions’s dividend payout ratio is presently 46.35%.

In related news, VP James M. Young sold 38,166 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $126.45, for a total value of $4,826,090.70. Following the transaction, the vice president now directly owns 67,150 shares of the company’s stock, valued at approximately $8,491,117.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vijay Mayadas sold 20,334 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $129.14, for a total value of $2,625,932.76. Following the completion of the transaction, the insider now directly owns 36,286 shares in the company, valued at $4,685,974.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 317,133 shares of company stock worth $39,829,477. Insiders own 2.30% of the company’s stock.

A number of equities analysts have recently issued reports on the company. SunTrust Banks upped their price target on Broadridge Financial Solutions from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Raymond James downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Finally, ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average target price of $129.20.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

Further Reading: Outperform Rating

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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