Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 25.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 139,763 shares of the business services provider’s stock after purchasing an additional 28,720 shares during the quarter. Bank of Montreal Can owned 0.12% of Broadridge Financial Solutions worth $29,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC increased its position in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth $32,000. Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions during the third quarter worth $38,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions during the second quarter worth $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,294 shares of company stock worth $16,944,095. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $235.80 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $186.19 and a 12-month high of $237.74. The firm has a market capitalization of $27.56 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05. The business has a 50 day simple moving average of $218.97 and a 200 day simple moving average of $210.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. On average, equities 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 will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 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.