Lecap Asset Management Ltd. Acquires New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Lecap Asset Management Ltd. purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,355 shares of the business services provider's stock, valued at approximately $1,541,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $580,000. Sigma Planning Corp purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $216,000. First Horizon Advisors Inc. boosted its position in shares of Broadridge Financial Solutions by 7.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,192 shares of the business services provider's stock worth $270,000 after acquiring an additional 87 shares in the last quarter. Wealthspire Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $225,000. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $206,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the topic of several recent analyst reports. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $250.83.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president now directly owns 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 in the last three months. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

BR stock traded up $0.96 on Friday, hitting $240.13. The company's stock had a trading volume of 60,201 shares, compared to its average volume of 523,532. Broadridge Financial Solutions, Inc. has a 1 year low of $195.64 and a 1 year high of $247.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock has a market cap of $28.21 billion, a price-to-earnings ratio of 36.11 and a beta of 0.96. The firm has a 50 day moving average of $238.69 and a two-hundred day moving average of $235.31.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $2.23 earnings per share. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Broadridge Financial Solutions 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.