Broadridge Financial Solutions, Inc. $BR Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Broadridge stake by 5,121.2% in the third quarter, adding 467,157 shares to own 476,279 shares valued at approximately $76.7 million. Institutional investors collectively hold 90.03% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $216.00; ratings include four Buys and four Holds.
• Broadridge exceeded quarterly earnings and revenue expectations, while reporting 7.5% year-over-year revenue growth. The company also raised its quarterly dividend to $1.09, equivalent to a $4.36 annualized payout and a 2.5% yield.

Assenagon Asset Management S.A. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5,121.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,279 shares of the business services provider's stock after purchasing an additional 467,157 shares during the period. Assenagon Asset Management S.A. owned 0.42% of Broadridge Financial Solutions worth $76,729,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BR. Ninety One UK Ltd acquired a new position in Broadridge Financial Solutions in the 3rd quarter valued at about $798,000. State of Alaska Department of Revenue increased its stake in Broadridge Financial Solutions by 386.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 72,592 shares of the business services provider's stock valued at $11,695,000 after buying an additional 57,660 shares during the period. Turtle Creek Wealth Advisors LLC raised its position in Broadridge Financial Solutions by 69.9% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 6,274 shares of the business services provider's stock worth $1,011,000 after buying an additional 2,582 shares during the last quarter. Curated Wealth Partners LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter worth $1,051,000. Finally, Nolet Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter worth $228,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BR. UBS Group restated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada increased their price target on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $216.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the sale, the vice president directly owned 8,800 shares of the company's stock, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.00% of the company's stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $174.93 on Friday. The stock's 50 day moving average price is $170.16 and its 200 day moving average price is $157.90. The firm has a market cap of $19.75 billion, a P/E ratio of 18.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $236.02.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were paid a $1.09 dividend. The ex-dividend date was Thursday, September 3rd. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. This represents a $4.36 annualized dividend and a yield of 2.5%. Broadridge Financial Solutions's payout ratio is currently 45.32%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company's services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.

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