Broadridge Finl Solutions Inc Stock Price, News & Analysis

Broadridge Financial Solutions (NYSE:BR) announced a quarterly cash dividend of $0.725 per share, payable on April 5, 2023, to stockholders of record by the close of business on March 15, 2023. This reflects Broadridge's continued commitment to returning value to its shareholders. The company generates over $5 billion in revenues and supports a daily trading volume of approximately $9 trillion in securities globally. As part of the S&P 500, Broadridge plays a critical role in financial infrastructure, providing essential technology-driven solutions for banks, asset managers, and public companies.

The 5th Annual Broadridge CX and Communications survey reveals a strong link between consumer demand for enhanced customer experience (CX) and retention rates. Amid economic uncertainty, 65% of consumers are reducing spending with companies that fail to meet their CX expectations. A significant 69% seek improvements in customer experience, reflecting a rise from 35% in 2019. The survey highlights that personalization is crucial, with 54% ceasing engagement due to inadequate personalization efforts. Moreover, 42% have exited relationships post-data breaches. Companies are urged to invest in communication technologies to foster loyalty and enhance digital experiences.

Broadridge Financial Solutions (NYSE: BR) announced a strategic partnership with Point Focal on February 6, 2023. This collaboration aims to enhance portfolio analytics and provide alternative data-driven insights through Broadridge's NYFIX order-routing platform. Point Focal's analytics will deliver automated reports combining data and visual analytics, helping clients improve portfolio performance while reducing execution risk. Key features include pre-market news reports, earnings recaps, and post-market summaries. Broadridge's robust infrastructure supports $9 trillion in daily trading, catering to a wide range of financial professionals.

Broadridge Financial Solutions reported strong second-quarter results for fiscal year 2023, with recurring revenues increasing 6% and total revenues rising 3% to $1.293 billion. Diluted EPS grew 20% to $0.48, while Adjusted EPS rose 11% to $0.91. The company reaffirmed its fiscal year guidance of 6-9% recurring revenue growth and 7-11% Adjusted EPS growth. Operating income surged 57% to $108 million, contributing to an improved operating margin of 8.3%. Despite a 42% decline in event-driven revenues due to lower mutual fund proxy communication volumes, disciplined expense management and backlog conversion fostered overall growth.

Broadridge Financial Solutions (NYSE: BR) has announced a program to offer the Fi360 Accredited Investment Fiduciary® Designation Training at no cost for 100 financial professionals from underrepresented groups. This initiative is a collaboration with Envestnet and Choir, aimed at enhancing diversity within the financial sector. Candidates, particularly women and people of color, will be selected through Choir's platform. Broadridge aims to contribute to the retention and advancement of these individuals in finance. Envestnet highlights the potential for this initiative to support growth in the 401(k) marketplace, projected to triple by 2028.

On January 26, 2023, Broadridge Financial Solutions (NYSE: BR) announced a partnership with FLX Networks to enhance data and analytics services for asset management firms. This collaboration aims to simplify product offerings while mitigating risks associated with market entry. FLX will utilize Broadridge's advanced analytics to provide comprehensive market and product insights, enabling clients to improve distribution strategies and grow assets. Broadridge's robust infrastructure supports over $9 trillion in daily trading globally, and its solutions are crucial for financial transformation across various sectors.

Broadridge Financial Solutions (NYSE:BR) released its 2023 Digital Transformation and Next-Gen Tech study, revealing that 57% of financial services firms prioritize digital transformation. The study, surveying 500 executives, found 71% agree AI significantly changes their work, while 60% anticipate blockchain will be integral to financial market infrastructure within a decade. Notably, firms are now allocating 27% of their IT budgets to digital initiatives, a 16-point increase from 2022. Digital leaders see higher revenue growth as a key benefit, while firms recognize the risk of not adopting new technologies in attracting talent.