Assenagon Asset Management S.A. Boosts Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Assenagon Asset Management dramatically increased its stake in Broadridge Financial Solutions by 2,379.1% in the first quarter, ending with 132,831 shares valued at about $21.6 million.
• Broadridge continues to attract broad institutional ownership, with about 90.03% of the stock held by hedge funds and other investors, while insiders own roughly 1.10%.
• The company reported better-than-expected quarterly results, posting $2.72 EPS on $1.95 billion in revenue, and also declared a quarterly dividend of $0.975 per share, yielding about 2.8%.

Assenagon Asset Management S.A. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2,379.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,831 shares of the business services provider's stock after purchasing an additional 127,473 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Broadridge Financial Solutions worth $21,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BR. Reflection Asset Management acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $25,000. Nemes Rush Group LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $27,000. Prosperity Bancshares Inc acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $28,000. WPG Advisers LLC boosted its holdings in Broadridge Financial Solutions by 77.5% in the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider's stock worth $32,000 after acquiring an additional 62 shares during the period. Finally, DV Equities LLC acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. Needham & Company LLC reduced their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, May 1st. DA Davidson dropped their target price on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. UBS Group lowered their price objective on Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday. Finally, Weiss Ratings downgraded Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.57.

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,966 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the transaction, the insider directly owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $138.61 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $16.03 billion, a PE ratio of 14.84 and a beta of 0.88. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $271.91. The company has a 50 day moving average price of $149.65 and a two-hundred day moving average price of $178.51.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.63 by $0.09. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.90 billion. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. Broadridge Financial Solutions's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, June 12th. This represents a $3.90 annualized dividend and a yield of 2.8%. Broadridge Financial Solutions's dividend payout ratio is presently 41.76%.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

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