Assenagon Asset Management S.A. Lowers Stock Position in Broadridge Financial Solutions, Inc. $BR

Assenagon Asset Management S.A. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,407 shares of the business services provider’s stock after selling 23,264 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Broadridge Financial Solutions worth $37,251,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clarus Group Inc. grew its position in shares of Broadridge Financial Solutions by 1.5% during the 2nd quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 44 shares during the period. Harbour Investments Inc. raised its holdings in Broadridge Financial Solutions by 10.1% in the 2nd quarter. Harbour Investments Inc. now owns 489 shares of the business services provider’s stock worth $119,000 after purchasing an additional 45 shares during the period. Cresset Asset Management LLC boosted its position in Broadridge Financial Solutions by 1.8% during the first quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock worth $686,000 after purchasing an additional 49 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Broadridge Financial Solutions by 7.0% in the first quarter. Smartleaf Asset Management LLC now owns 747 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 49 shares during the period. Finally, PAX Financial Group LLC increased its position in shares of Broadridge Financial Solutions by 5.6% in the second quarter. PAX Financial Group LLC now owns 926 shares of the business services provider’s stock valued at $225,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares of the company’s stock, valued at $10,131,354. This trade represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas P. Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total value of $2,341,661.64. Following the transaction, the vice president owned 6,026 shares in the company, valued at approximately $1,381,520.76. This represents a 62.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several research analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group reduced their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. DA Davidson reiterated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. Finally, Morgan Stanley decreased their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $259.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $226.28 on Friday. The company has a fifty day simple moving average of $227.26 and a 200-day simple moving average of $239.61. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of 28.97 and a beta of 0.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 52-week low of $212.33 and a 52-week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 49.94%.

Broadridge Financial Solutions 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.