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

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

Broadridge Financial Solutions Trading Down 0.3 %

BR opened at $210.21 on Friday. The company’s 50 day moving average price is $213.54 and its two-hundred day moving average price is $206.03. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions has a fifty-two week low of $171.45 and a fifty-two week high of $224.32. The firm 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 (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm posted $3.21 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts predict that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now owns 67,267 shares in the company, valued at $14,126,070. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 162 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total transaction of $34,020.00. Following the transaction, the president now owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BR. Brookstone Capital Management bought a new position in Broadridge Financial Solutions during the first quarter worth $253,000. Allspring Global Investments Holdings LLC raised its holdings in Broadridge Financial Solutions by 14.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the business services provider’s stock worth $1,520,000 after buying an additional 926 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Broadridge Financial Solutions by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 12,801 shares of the business services provider’s stock worth $2,621,000 after buying an additional 80 shares during the last quarter. Norden Group LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $4,652,000. Finally, First Trust Direct Indexing L.P. raised its holdings in Broadridge Financial Solutions by 6.7% during the first quarter. First Trust Direct Indexing L.P. now owns 3,130 shares of the business services provider’s stock worth $641,000 after buying an additional 196 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

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.