Stock Traders Purchase Large Volume of Broadridge Financial Solutions Call Options (NYSE:BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) was the recipient of some unusual options trading activity on Friday. Traders acquired 3,280 call options on the stock. This represents an increase of approximately 631% compared to the typical volume of 449 call options.

Broadridge Financial Solutions Stock Up 0.4%

Shares of NYSE:BR traded up $0.80 during trading hours on Friday, reaching $192.27. The stock had a trading volume of 725,997 shares, compared to its average volume of 1,091,831. Broadridge Financial Solutions has a 1 year low of $133.83 and a 1 year high of $233.10. The firm’s 50 day moving average is $173.29 and its 200-day moving average is $165.46. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 21.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.21 and a current ratio of 1.21.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.19. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. Research analysts predict that Broadridge Financial Solutions will post 10.58 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 10th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 10th. Broadridge Financial Solutions’s payout ratio is 48.18%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. UBS Group reissued a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $214.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average price target of $212.71.

Insider Activity

In other news, VP Thomas P. Carey sold 2,501 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the transaction, the vice president owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Maura A. Markus sold 3,180 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $191.89, for a total transaction of $610,210.20. Following the completion of the transaction, the director owned 33,769 shares of the company’s stock, valued at $6,479,933.41. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Security National Bank of SO Dak purchased a new stake in Broadridge Financial Solutions during the second quarter worth approximately $26,000. Markowski Investments purchased a new position in Broadridge Financial Solutions in the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. increased its stake in Broadridge Financial Solutions by 230.8% in the third quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. raised its holdings in Broadridge Financial Solutions by 496.7% during the third quarter. First Command Advisory Services Inc. now owns 179 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.