Short Interest in Broadridge Financial Solutions, Inc. (NYSE:BR) Expands By 10.5%

Broadridge Financial Solutions, Inc. (NYSE:BR) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,370,000 shares, a growth of 10.5% from the August 15th total of 1,240,000 shares. Based on an average daily volume of 539,700 shares, the short-interest ratio is currently 2.5 days. Approximately 1.2% of the company’s stock are short sold.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Christopher John Perry sold 17,534 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,386 shares of company stock valued at $28,112,824. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds have recently made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $144,033,000. APG Asset Management US Inc. purchased a new position in Broadridge Financial Solutions during the 4th quarter worth $70,498,000. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $67,605,000. Veritas Investment Partners UK Ltd. boosted its holdings in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after acquiring an additional 147,293 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after acquiring an additional 134,911 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BR. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Stock Down 1.1 %

Shares of BR stock traded down $2.37 during trading on Wednesday, reaching $208.59. The company’s stock had a trading volume of 369,691 shares, compared to its average volume of 524,431. Broadridge Financial Solutions has a 1-year low of $166.73 and a 1-year high of $223.81. The stock’s 50-day moving average price is $210.13 and its 200 day moving average price is $203.25. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 36.00 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced 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. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.21 EPS. On average, research analysts anticipate that Broadridge Financial Solutions will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

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.