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

Bank of Montreal Can boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 25.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,763 shares of the business services provider's stock after purchasing an additional 28,720 shares during the period. Bank of Montreal Can owned about 0.12% of Broadridge Financial Solutions worth $29,634,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 157.0% in the first quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider's stock worth $56,000 after acquiring an additional 168 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Broadridge Financial Solutions by 44.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider's stock worth $979,000 after buying an additional 1,469 shares in the last quarter. Comerica Bank boosted its position in shares of Broadridge Financial Solutions by 5.0% in the first quarter. Comerica Bank now owns 45,797 shares of the business services provider's stock valued at $9,382,000 after acquiring an additional 2,182 shares during the period. iA Global Asset Management Inc. grew its stake in Broadridge Financial Solutions by 53.1% during the first quarter. iA Global Asset Management Inc. now owns 2,435 shares of the business services provider's stock valued at $499,000 after acquiring an additional 845 shares in the last quarter. Finally, Swedbank AB bought a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $4,951,000. Institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

BR has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a "neutral" rating and a $250.00 price objective for the company. Finally, Morgan Stanley raised 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $222.43.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company's stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,294 shares of company stock worth $16,944,095. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Up 0.1 %

BR stock traded up $0.22 on Friday, reaching $236.02. The company's stock had a trading volume of 253,043 shares, compared to its average volume of 522,966. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The business has a fifty day simple moving average of $219.51 and a two-hundred day simple moving average of $210.20. The firm has a market cap of $27.59 billion, a PE ratio of 40.80 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.74.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. During the same quarter in the previous year, the firm posted $1.09 EPS. The company's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Broadridge Financial Solutions Company Profile

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.