Assenagon Asset Management S.A. Sells 65,049 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Assenagon Asset Management S.A. reduced its stake in Broadridge Financial Solutions by 26.6% in the second quarter, selling 65,049 shares, which now makes up 0.15% of the company's total shares.
• Broadridge Financial Solutions reported a 6.2% increase in quarterly revenue year-over-year, reaching $2.07 billion, along with an earnings per share of $3.55, exceeding estimates by $0.04.
• The company announced a quarterly dividend increase to $0.975 per share, up from $0.88, which reflects an annualized yield of 1.6%.

Assenagon Asset Management S.A. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,671 shares of the business services provider's stock after selling 65,049 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.15% of Broadridge Financial Solutions worth $43,665,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock worth $3,572,199,000 after purchasing an additional 438,381 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadridge Financial Solutions by 2.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock worth $409,662,000 after buying an additional 39,846 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in Broadridge Financial Solutions by 3.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider's stock worth $283,278,000 after buying an additional 38,527 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Broadridge Financial Solutions by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider's stock worth $261,071,000 after buying an additional 33,635 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Broadridge Financial Solutions by 577.9% during the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock worth $251,513,000 after buying an additional 883,125 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 0.0%

Shares of BR stock traded up $0.11 on Monday, hitting $241.57. The stock had a trading volume of 632,573 shares, compared to its average volume of 669,408. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a twelve month low of $208.14 and a twelve month high of $271.91. The company has a fifty day moving average price of $252.46 and a two-hundred day moving average price of $242.25. The firm has a market cap of $28.30 billion, a P/E ratio of 34.07 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.6%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is currently 55.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BR. Needham & Company LLC upped their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and an average price target of $261.50.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the transaction, the chief executive officer directly owned 143,285 shares of the company's stock, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,532 shares of company stock valued at $38,417,208 in the last three months. 1.30% of the stock is owned by insiders.

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.