Assenagon Asset Management S.A. Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3,197.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 204,366 shares of the business services provider’s stock after acquiring an additional 198,169 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Broadridge Financial Solutions worth $43,945,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth approximately $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $213.33.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of NYSE BR opened at $216.78 on Friday. The stock has a fifty day moving average price of $213.22 and a 200 day moving average price of $205.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $224.32. The company has a market cap of $25.62 billion, a P/E ratio of 36.99 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

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.