Broadridge Financial Solutions, Inc. (NYSE:BR) Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 1,865.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,363 shares of the business services provider’s stock after purchasing an additional 88,613 shares during the period. Assenagon Asset Management S.A.’s holdings in Broadridge Financial Solutions were worth $19,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. American Century Companies Inc. raised its holdings in Broadridge Financial Solutions by 10.7% during the first quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock worth $1,270,000 after purchasing an additional 788 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Broadridge Financial Solutions by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock worth $2,433,000 after purchasing an additional 992 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Broadridge Financial Solutions by 126.2% during the first quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock worth $527,000 after purchasing an additional 1,888 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Broadridge Financial Solutions by 1,851.9% during the first quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock worth $82,000 after purchasing an additional 500 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Broadridge Financial Solutions by 13.2% during the first quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock worth $1,981,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now directly owns 5,445 shares in the company, valued at $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on BR. Morgan Stanley upped their price target on Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, December 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday. Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $203.17.

Get Our Latest Report on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Up 1.1 %

Broadridge Financial Solutions stock opened at $203.88 on Thursday. The firm has a market cap of $24.01 billion, a price-to-earnings ratio of 35.52 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a fifty-two week low of $139.35 and a fifty-two week high of $210.24. The firm has a fifty day moving average price of $201.90 and a two-hundred day moving average price of $192.19.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio is 55.75%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

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

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