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

Assenagon Asset Management S.A. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 80.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,345 shares of the business services provider’s stock after selling 164,021 shares during the period. Assenagon Asset Management S.A.’s holdings in Broadridge Financial Solutions were worth $9,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Qsemble Capital Management LP acquired a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $1,412,000. Atria Investments Inc increased its position in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $483,000. Y Intercept Hong Kong Ltd lifted its position in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 6,336 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in shares of Broadridge Financial Solutions by 82.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after purchasing an additional 3,216 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $230.35 on Friday. The stock has a market cap of $26.93 billion, a P/E ratio of 39.85 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The stock has a 50 day moving average of $229.43 and a two-hundred day moving average of $217.90. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last quarter. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BR shares. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Profile

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.