Broadridge Financial Solutions, Inc. (NYSE:BR) Short Interest Up 21.9% in March

Broadridge Financial Solutions, Inc. (NYSE:BR) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,160,000 shares, an increase of 21.9% from the March 15th total of 951,700 shares. Based on an average daily volume of 543,800 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently bought and sold shares of BR. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after acquiring an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after acquiring an additional 1,204 shares during the last quarter. Park Place Capital Corp increased its holdings in shares of Broadridge Financial Solutions by 31.3% during the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Crown Oak Advisors LLC raised its position in shares of Broadridge Financial Solutions by 10.8% in the 4th quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock valued at $8,224,000 after purchasing an additional 3,553 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 3.2 %

NYSE:BR opened at $228.24 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a 50-day simple moving average of $234.83 and a 200-day simple moving average of $230.28. Broadridge Financial Solutions has a one year low of $188.30 and a one year high of $247.01. The firm has a market cap of $26.71 billion, a P/E ratio of 35.72 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts anticipate that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $241.00.

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.