Bank of Montreal Can Buys 28,720 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of Montreal Can increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 25.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,763 shares of the business services provider’s stock after acquiring an additional 28,720 shares during the quarter. Bank of Montreal Can’s holdings in Broadridge Financial Solutions were worth $29,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Kinetics Asset Management LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $483,000. Truvestments Capital LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $45,000. Brown Brothers Harriman & Co. increased its holdings in Broadridge Financial Solutions by 49.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 998 shares of the business services provider’s stock valued at $215,000 after buying an additional 329 shares during the period. DRW Securities LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $241,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 18.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,114 shares of the business services provider’s stock valued at $4,325,000 after purchasing an additional 3,132 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,294 shares of company stock valued at $16,944,095 in the last quarter. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Trading Down 0.3 %

NYSE:BR opened at $235.80 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $186.19 and a twelve month high of $237.74. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $218.97 and a two-hundred day moving average price of $210.02. The company has a market cap of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BR. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $222.43.

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.