Broadridge Financial Solutions, Inc. $BR Shares Sold by Assenagon Asset Management S.A.

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 13F filing 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.’s holdings in Broadridge Financial Solutions were worth $37,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BR. NewSquare Capital LLC raised its position in Broadridge Financial Solutions by 89.5% in the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 51 shares during the period. ORG Partners LLC increased its position in shares of Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares during the last quarter. Bank of Jackson Hole Trust raised its holdings in Broadridge Financial Solutions by 110.3% in the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after buying an additional 64 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Broadridge Financial Solutions by 85.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 57 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in Broadridge Financial Solutions by 59.1% in the second quarter. REAP Financial Group LLC now owns 148 shares of the business services provider’s stock valued at $36,000 after buying an additional 55 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction dated 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 transaction, the president owned 44,829 shares in the company, valued at approximately $10,131,354. This trade represents a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 10,214 shares of the business’s stock in a transaction dated 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 directly owned 6,026 shares of the company’s stock, valued at approximately $1,381,520.76. This represents a 62.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday. DA Davidson reissued a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Morgan Stanley lowered their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, UBS Group dropped their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $226.28 on Friday. 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. The firm has a market cap of $26.41 billion, a PE ratio of 28.97 and a beta of 0.99. The company’s 50 day moving average is $227.26 and its two-hundred day moving average is $239.61.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. On average, research analysts expect 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. Shareholders of record on Friday, December 12th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

About Broadridge Financial Solutions

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.