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 Wednesday. Investors purchased 2,842 call options on the company. This represents an increase of approximately 2,086% compared to the typical volume of 130 call options.
Shares of NYSE BR opened at $131.15 on Friday. Broadridge Financial Solutions has a twelve month low of $91.34 and a twelve month high of $138.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.77.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company earned $1.00 EPS. Broadridge Financial Solutions’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Broadridge Financial Solutions will post 4.65 EPS for the current year.
In related news, insider Robert F. Kalenka sold 8,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.58, for a total value of $1,060,640.00. Following the completion of the transaction, the insider now owns 28,986 shares in the company, valued at approximately $3,842,963.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $108.82, for a total transaction of $132,216.30. Following the completion of the transaction, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The disclosure for this sale can be found here. Insiders sold a total of 162,984 shares of company stock valued at $20,133,104 in the last quarter. 2.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BR. Whittier Trust Co. lifted its stake in Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after buying an additional 156 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in Broadridge Financial Solutions during the first quarter valued at about $30,000. Cresset Asset Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter valued at about $31,000. PRW Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter valued at about $33,000. Finally, Pinnacle Bank purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $34,000. 84.10% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Raymond James increased their target price on shares of Broadridge Financial Solutions from $125.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Friday, May 10th. SunTrust Banks upped their price target on shares of Broadridge Financial Solutions to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, DA Davidson downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price target for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Broadridge Financial Solutions has a consensus rating of “Buy” and an average price target of $126.00.
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.
Further Reading: Sell-Side Analysts
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