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 during the month of December. As of December 31st, there was short interest totalling 1,040,000 shares, an increase of 12.9% from the December 15th total of 920,900 shares. Based on an average trading volume of 483,200 shares, the short-interest ratio is currently 2.2 days. Currently, 0.9% of the shares of the stock are sold short.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $230.35 on Monday. Broadridge Financial Solutions has a 1 year low of $188.30 and a 1 year high of $237.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $26.93 billion, a P/E ratio of 39.85 and a beta of 1.08. The business has a 50-day moving average of $229.43 and a two-hundred day moving average of $218.03.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. The trade was a 45.88 % 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, Director Maura A. Markus sold 3,880 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock worth $12,264,846 in the last three months. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Institutional investors 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. True Wealth Design LLC grew its holdings in shares of Broadridge Financial Solutions by 2,028.6% in 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 in the last quarter. Fortitude Family Office LLC increased its position in shares of Broadridge Financial Solutions by 246.7% in the fourth 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 last quarter. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the third quarter worth about $38,000. Finally, FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at approximately $39,000. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BR. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. DA Davidson raised their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $226.71.

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.