Broadridge Financial Solutions, Inc. (NYSE:BR) Sees Large Increase in Short Interest

Broadridge Financial Solutions, Inc. (NYSE:BR) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 1,040,000 shares, an increase of 12.9% from the December 31st total of 920,900 shares. Based on an average trading volume of 483,200 shares, the short-interest ratio is currently 2.2 days. Approximately 0.9% of the shares of the stock are short sold.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $0.50 during midday trading on Monday, hitting $238.72. The company’s stock had a trading volume of 515,938 shares, compared to its average volume of 495,059. Broadridge Financial Solutions has a 1-year low of $188.30 and a 1-year high of $241.45. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The company has a 50-day moving average price of $231.37 and a two-hundred day moving average price of $220.56. The company has a market cap of $27.90 billion, a price-to-earnings ratio of 37.36 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions will post 8.55 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 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BR. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock worth $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bogart Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC lifted its position in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC lifted its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $38,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $39,000. 90.03% of the stock is owned by institutional investors.

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.