Short Interest in Broadridge Financial Solutions, Inc. (NYSE:BR) Grows 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. Based on an average daily volume of 551,100 shares, the short-interest ratio is presently 2.8 days. Currently, 1.4% of the shares of the company are short sold.

Broadridge Financial Solutions Stock Down 0.2 %

BR traded down $0.52 during trading on Thursday, hitting $211.98. 18,248 shares of the company’s stock were exchanged, compared to its average volume of 515,874. The stock has a market cap of $25.05 billion, a P/E ratio of 36.26 and a beta of 1.05. The business’s 50 day moving average is $213.51 and its two-hundred day moving average is $205.89. Broadridge Financial Solutions has a fifty-two week low of $168.76 and a fifty-two week high of $224.32. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $3.21 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction 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 completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction 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 directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Large investors have recently made changes to their positions in the business. Bogart Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 384.0% during 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 last quarter. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions in the second quarter worth $32,000. Rothschild Investment LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the first quarter valued at $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BR shares. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.