Broadridge Financial Solutions, Inc. (NYSE:BR) Short Interest Up 10.3% in June

Broadridge Financial Solutions, Inc. (NYSE:BR) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 4,015,600 shares, a growth of 10.3% from the May 15th total of 3,641,300 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 878,100 shares, the short-interest ratio is currently 4.6 days.

A number of equities research analysts recently issued reports on the company. Raymond James set a $57.00 price target on National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. ValuEngine raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. DA Davidson set a $14.00 price target on MACOM Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, SunTrust Banks upped their target price on HubSpot to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Buy” and a consensus target price of $126.00.

Shares of Broadridge Financial Solutions stock opened at $132.37 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50-day simple moving average is $128.85. The firm has a market cap of $15.37 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.60 and a beta of 0.73. Broadridge Financial Solutions has a 1-year low of $91.34 and a 1-year high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts forecast that Broadridge Financial Solutions will post 4.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th were given a dividend of $0.485 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.94 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

In other news, VP Laura Matlin sold 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $118.99, for a total value of $461,086.25. Following the transaction, the vice president now owns 5,988 shares of the company’s stock, valued at $712,512.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adam D. Amsterdam sold 20,880 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $128.92, for a total value of $2,691,849.60. Following the completion of the transaction, the vice president now directly owns 20,365 shares in the company, valued at approximately $2,625,455.80. The disclosure for this sale can be found here. Insiders have sold 190,149 shares of company stock worth $23,659,712 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. grew its position in shares of Broadridge Financial Solutions by 0.6% in the fourth quarter. Prudential Financial Inc. now owns 135,652 shares of the business services provider’s stock valued at $13,056,000 after purchasing an additional 824 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Broadridge Financial Solutions by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 340,953 shares of the business services provider’s stock valued at $32,817,000 after purchasing an additional 2,200 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Broadridge Financial Solutions by 6.9% in the fourth quarter. Private Advisor Group LLC now owns 13,837 shares of the business services provider’s stock valued at $1,332,000 after purchasing an additional 897 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Broadridge Financial Solutions by 26.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,572,745 shares of the business services provider’s stock valued at $151,375,000 after purchasing an additional 332,615 shares during the last quarter. Finally, TrinityPoint Wealth LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $372,000. 83.96% of the stock is currently owned by institutional investors.

About Broadridge Financial Solutions

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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