Bank of Montreal Can Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of Montreal Can raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,145 shares of the business services provider's stock after buying an additional 11,382 shares during the quarter. Bank of Montreal Can owned about 0.13% of Broadridge Financial Solutions worth $34,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $45,000. Salem Investment Counselors Inc. lifted its stake in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after acquiring an additional 150 shares during the last quarter. Finally, Promus Capital LLC bought a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $52,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 0.4 %

Shares of NYSE BR traded up $0.84 during mid-day trading on Wednesday, hitting $236.60. 55,165 shares of the stock traded hands, compared to its average volume of 538,432. The company has a market cap of $27.69 billion, a price-to-earnings ratio of 37.03 and a beta of 1.06. The stock has a fifty day moving average price of $235.45 and a 200-day moving average price of $229.64. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

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Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the firm earned $0.92 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is 55.09%.

Insiders Place Their Bets

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the sale, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BR. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus target price of $241.00.

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.