Bank of Montreal Can Has $21.08 Million Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Bank of Montreal Can reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,738 shares of the business services provider’s stock after selling 33,322 shares during the period. Bank of Montreal Can’s holdings in Broadridge Financial Solutions were worth $21,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in Broadridge Financial Solutions by 360.0% during the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Bank of Jackson Hole Trust lifted its position in shares of Broadridge Financial Solutions by 110.3% during the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock worth $30,000 after buying an additional 64 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after buying an additional 117 shares during the period. Finally, REAP Financial Group LLC boosted its stake in Broadridge Financial Solutions by 59.1% in the 2nd quarter. REAP Financial Group LLC now owns 148 shares of the business services provider’s stock valued at $36,000 after buying an additional 55 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. DA Davidson reissued a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC raised their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $264.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Up 2.0%

Shares of NYSE:BR opened at $221.83 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.89 billion, a P/E ratio of 28.40 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12 month low of $212.33 and a 12 month high of $271.91. The company’s 50-day moving average price is $236.59 and its two-hundred day moving average price is $241.73.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The company had revenue of $1.05 billion during the quarter. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

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.