Victory Capital Management Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,628 shares of the business services provider’s stock after purchasing an additional 5,213 shares during the period. Victory Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,239,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Broadridge Financial Solutions by 5,792.7% during the 1st quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock worth $819,107,000 after buying an additional 11,849,968 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock worth $686,373,000 after buying an additional 369,176 shares during the period. Independence Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $21,006,000. Scout Investments Inc. bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $14,727,000. Finally, Baird Financial Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 53.0% during the 1st quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock worth $43,913,000 after buying an additional 223,959 shares during the period. Institutional investors own 84.27% of the company’s stock.

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In other news, insider Adam D. Amsterdam sold 17,813 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the transaction, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Shares of Broadridge Financial Solutions, Inc. (BR) opened at 79.08 on Friday. The company has a market cap of $9.21 billion, a P/E ratio of 29.29 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $79.49. The company’s 50 day moving average is $76.39 and its 200 day moving average is $72.79.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company posted $1.45 earnings per share. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a $0.365 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.35%.

BR has been the subject of several research analyst reports. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Barclays PLC lifted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They set a “neutral” rating and a $74.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $76.00.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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

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