Broadridge Financial Solutions, Inc. (NYSE:BR) Short Interest Update

Broadridge Financial Solutions, Inc. (NYSE:BR) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,040,000 shares, a growth of 12.9% from the December 31st total of 920,900 shares. Based on an average daily trading volume, of 483,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BR. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 over the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after purchasing an additional 51,439 shares during the period. Geode Capital Management LLC increased its position in Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after acquiring an additional 15,208 shares during the period. Stifel Financial Corp raised its stake in Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after acquiring an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after acquiring an additional 20,775 shares during the period. Finally, abrdn plc grew its stake in shares of Broadridge Financial Solutions by 5.5% in the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after purchasing an additional 27,869 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2 %

Broadridge Financial Solutions stock traded up $0.50 during mid-day trading on Monday, hitting $238.72. The company had a trading volume of 515,938 shares, compared to its average volume of 495,059. The stock has a market cap of $27.90 billion, a price-to-earnings ratio of 37.36 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 1 year low of $188.30 and a 1 year high of $241.45. The business has a fifty day moving average of $231.26 and a 200 day moving average of $220.33.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company posted $0.92 EPS. On average, sell-side analysts expect that Broadridge Financial Solutions will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a $0.88 dividend. 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 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.