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

Assenagon Asset Management S.A. grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3,197.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,366 shares of the business services provider’s stock after acquiring an additional 198,169 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Broadridge Financial Solutions were worth $43,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brookstone Capital Management bought a new stake in Broadridge Financial Solutions during the first quarter valued at $253,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Broadridge Financial Solutions by 86.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,814 shares of the business services provider’s stock valued at $6,108,000 after buying an additional 13,851 shares during the last quarter. New England Research & Management Inc. acquired a new stake in Broadridge Financial Solutions during the first quarter worth about $1,465,000. Webster Bank N. A. lifted its holdings in Broadridge Financial Solutions by 120.2% in the first quarter. Webster Bank N. A. now owns 447 shares of the business services provider’s stock worth $92,000 after acquiring an additional 244 shares during the last quarter. Finally, Occidental Asset Management LLC boosted its stake in Broadridge Financial Solutions by 6.1% in the first quarter. Occidental Asset Management LLC now owns 16,329 shares of the business services provider’s stock valued at $3,345,000 after acquiring an additional 936 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.33.

Broadridge Financial Solutions Stock Up 0.2 %

BR opened at $216.78 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $224.32. The stock’s 50 day moving average price is $213.22 and its 200 day moving average price is $205.59. The stock 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 issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion for 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 quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $3.21 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.88 dividend. This is a positive change 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 was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insider Activity

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

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.