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

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) was the recipient of a significant 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. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 543,800 shares, the days-to-cover ratio is currently 2.1 days.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $29,000. Whipplewood Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Continuum Advisory LLC raised its holdings in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after acquiring an additional 111 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. Morgan Stanley raised their price objective 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, February 3rd. DA Davidson restated a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Trading Up 0.8 %

Shares of BR traded up $1.78 during trading hours on Thursday, hitting $238.04. The company had a trading volume of 251,560 shares, compared to its average volume of 522,565. The firm has a market cap of $27.86 billion, a P/E ratio of 37.25 and a beta of 1.06. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $247.01. The stock's 50 day moving average price is $234.60 and its 200 day moving average price is $230.35. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping 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 previous year, the company posted $0.92 EPS. On average, research analysts predict that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

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.