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

Assenagon Asset Management S.A. grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1,865.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,363 shares of the business services provider’s stock after buying an additional 88,613 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of Broadridge Financial Solutions worth $19,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Tributary Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 1.6% in the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock valued at $900,000 after buying an additional 68 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Broadridge Financial Solutions by 11.9% in the fourth quarter. Pacer Advisors Inc. now owns 8,523 shares of the business services provider’s stock valued at $1,754,000 after buying an additional 903 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Broadridge Financial Solutions by 4.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 54,423 shares of the business services provider’s stock worth $11,198,000 after purchasing an additional 2,415 shares in the last quarter. LVW Advisors LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth $259,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Broadridge Financial Solutions during the 4th quarter worth $72,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Broadridge Financial Solutions Stock Up 1.1 %

BR opened at $203.88 on Thursday. The business has a 50 day moving average price of $201.90 and a two-hundred day moving average price of $192.19. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a market cap of $24.01 billion, a PE ratio of 35.52 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $139.35 and a 52 week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction 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 sale, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock worth $9,745,637 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.