Broadridge Financial Solutions, Inc. (NYSE:BR) Sees Significant Growth in Short Interest

Broadridge Financial Solutions, Inc. (NYSE:BR) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,670,000 shares, a growth of 9.2% from the April 30th total of 1,530,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 1.5 days. Approximately 1.5% of the company’s shares are short sold.

Shares of BR stock traded down $0.98 during mid-day trading on Friday, reaching $116.81. 553,913 shares of the company were exchanged, compared to its average volume of 714,635. The business’s 50 day simple moving average is $109.92 and its 200 day simple moving average is $115.67. Broadridge Financial Solutions has a fifty-two week low of $81.90 and a fifty-two week high of $136.99. The company has a market capitalization of $13.52 billion, a P/E ratio of 32.90 and a beta of 0.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.03). Broadridge Financial Solutions had a return on equity of 46.99% and a net margin of 9.50%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business earned $1.59 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts forecast that Broadridge Financial Solutions will post 4.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, June 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.35%.

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 1,089 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $97.11, for a total value of $105,752.79. Following the completion of the sale, the vice president now owns 3,041 shares of the company’s stock, valued at $295,311.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Schifellite sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $119.14, for a total transaction of $1,191,400.00. Following the completion of the sale, the senior vice president now directly owns 52,445 shares of the company’s stock, valued at approximately $6,248,297.30. The disclosure for this sale can be found here. Insiders sold 121,583 shares of company stock worth $14,294,469 in the last 90 days. 2.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BR. Whittier Trust Co. of Nevada Inc. lifted its stake in Broadridge Financial Solutions by 146.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the business services provider’s stock valued at $25,000 after buying an additional 119 shares during the last quarter. Atlas Private Wealth Management bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $25,000. Ellevest Inc. lifted its stake in Broadridge Financial Solutions by 63.5% in the first quarter. Ellevest Inc. now owns 273 shares of the business services provider’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Country Trust Bank bought a new stake in Broadridge Financial Solutions in the first quarter valued at $28,000. Finally, HighMark Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 84.58% of the company’s stock.

Several analysts have issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Broadridge Financial Solutions from $101.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and raised their price target for the stock from $134.00 to $138.00 in a research report on Monday, February 3rd. BTIG Research reissued a “buy” rating and set a $135.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, May 8th. Finally, Raymond James raised shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $132.67.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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