Short Interest in Broadridge Financial Solutions, Inc. (NYSE:BR) Decreases By 15.0%

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 750,800 shares, a decline of 15.0% from the April 15th total of 883,200 shares. Based on an average daily trading volume, of 465,500 shares, the days-to-cover ratio is presently 1.6 days.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert N. Duelks sold 830 shares of the business's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company's stock, valued at approximately $1,097,603.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The disclosure for this sale can be found here. Insiders sold a total of 25,761 shares of company stock worth $5,223,959 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in Broadridge Financial Solutions by 680.1% in the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider's stock valued at $17,584,000 after buying an additional 74,387 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $227,750,000. Crown Oak Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $7,032,000. Comerica Bank bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $8,116,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth about $1,089,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 1.0 %

Shares of Broadridge Financial Solutions stock traded up $2.07 on Tuesday, hitting $199.87. 502,014 shares of the company traded hands, compared to its average volume of 500,879. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 12-month low of $144.54 and a 12-month high of $210.24. The company has a 50-day moving average price of $199.54 and a 200 day moving average price of $196.31. The company has a market cap of $23.62 billion, a PE ratio of 34.11 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.24 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Sell-side analysts predict that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. Broadridge Financial Solutions's dividend payout ratio is currently 54.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI reissued an "outperform" rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James lifted their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an "outperform" rating in a research note on Friday, February 2nd. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Sunday. DA Davidson reiterated a "neutral" rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus price target of $206.67.

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.

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