Short Interest in Broadridge Financial Solutions, Inc. (NYSE:BR) Increases By 5.4%

Broadridge Financial Solutions, Inc. (NYSE:BR) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 1,570,000 shares, an increase of 5.4% from the September 30th total of 1,490,000 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 551,100 shares, the short-interest ratio is presently 2.8 days.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $210.21 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 35.87 and a beta of 1.05. Broadridge Financial Solutions has a 1-year low of $171.45 and a 1-year high of $224.32. The firm’s 50-day moving average price is $213.54 and its two-hundred day moving average price is $206.03.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. The ex-dividend date was Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Analysts Set New Price Targets

Several research firms have issued reports on BR. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Company 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.