Assenagon Asset Management S.A. Has $59.34 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 506.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 244,720 shares of the business services provider's stock after buying an additional 204,375 shares during the period. Assenagon Asset Management S.A. owned 0.21% of Broadridge Financial Solutions worth $59,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its stake in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $36,000. Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $52,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BR shares. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of BR traded down $1.42 during midday trading on Thursday, reaching $239.76. 388,414 shares of the stock were exchanged, compared to its average volume of 524,132. The stock's 50 day simple moving average is $236.57 and its 200 day simple moving average is $235.00. The company has a market cap of $28.16 billion, a P/E ratio of 37.52 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Insider Activity at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the transaction, the insider now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,116 shares of company stock worth $4,352,298. Company insiders own 1.30% 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.