Broadridge Finl Solutions Inc Stock Price, News & Analysis

Broadridge Financial Solutions (NYSE:BR) has launched Wealth InFocus, a next-generation wealth communications experience aimed at enhancing investor engagement and advisor-client connections. The service, initially adopted by Cetera Financial Group, has received positive feedback, with 78% of pilot clients preferring it over traditional methods. Wealth InFocus consolidates critical account information, streamlining investor communications across channels. Broadridge emphasizes its commitment to transforming wealth management through innovative digital solutions, enhancing operational efficiency while improving client outcomes.

Broadridge Financial Solutions has launched a multi-jurisdictional version of its Private Market Hub platform, now supporting North American funds. This platform, the first of its kind in private equity, utilizes blockchain technology to streamline operations across jurisdictions. Northern Trust is the cornerstone client now live on the platform, which comes amid significant growth in PE fundraising, surpassing $400 billion.

With over $2.9 trillion in assets under management, the platform enhances workflow efficiencies and data management for fund managers and stakeholders.

Broadridge Financial Solutions (NYSE: BR) has partnered with DekaBank to implement solutions for the Shareholder Rights Directive II (SRD II) in Germany. This collaboration enhances shareholder communications and boosts efficiency for DekaBank's extensive client network across Europe. The SRD II aims to improve transparency and shareholder engagement in corporate governance. Broadridge's Global Proxy Voting and Shareholder Disclosure Hub will provide cutting-edge technology to meet regulatory compliance and improve operational efficiencies.

Broadridge Financial Solutions (NYSE: BR) has appointed Eileen K. Murray as an independent member of its board of directors, effective September 1, 2022. With Ms. Murray's extensive background in financial services, she brings valuable expertise to the board. Currently the Chair of FINRA, her previous roles include Co-CEO at Bridgewater Associates and various senior positions at Morgan Stanley. The board now consists of 12 members, 10 of whom are independent, which is expected to enhance Broadridge's strategic direction in a digitally transforming financial landscape.

Broadridge Financial Solutions (BR) reported a 16% growth in recurring revenue for fiscal year 2022, reaching $3.749 billion. The diluted EPS for the year was $4.55, while adjusted EPS increased by 14% to $6.46. The company achieved record closed sales of $282 million and announced a 13% increase in the annual dividend to $2.90 per share. For fiscal year 2023, Broadridge expects organic recurring revenue growth of 6-9% and adjusted EPS growth of 7-11%.

Broadridge Financial Solutions (NYSE: BR) has opened a new office in Singapore, enhancing its commitment to the Asia-Pacific (APAC) region. The new headquarters aims to support growth in headcount and solution offerings, responding to the digital transformation needs of financial services clients. With revenues of $5 billion, Broadridge is positioning itself strategically to capture emerging opportunities within the rapidly expanding financial services sector in Asia. The office, located in Singapore's Central Business District, features a sustainable design to foster employee well-being.

Broadridge Financial Solutions (NYSE:BR) has partnered with Blue Ocean Technologies to enhance after-hours trading access for banks and broker-dealers in North America and APAC. The integration of Blue Ocean ATS with Broadridge's NYFIX network allows clients to engage in US equities trading from 8:00 PM to 4:00 AM ET, significantly overlapping with Asia Pacific business hours. This strategic collaboration aims to provide increased market accessibility and transparency, addressing the needs of global traders in a volatile market.

As of July 2022, the number of companies utilizing the electronic proxy voting platform from Investor Communications Japan (ICJ), a venture involving Broadridge Financial Solutions and the Tokyo Stock Exchange, has surpassed 1,700, marking an increase of 499 since June 2021. Over 1,600 Prime Market-listed companies are now on the platform, representing 87% of that market by company count and 98% by market capitalization. This demonstrates significant improvement in Japan's corporate governance and voting environment, bolstered by recent revisions to the Corporate Governance Code.

Broadridge Financial Solutions (NYSE: BR) will announce its fourth quarter and fiscal year 2022 results on August 12, 2022. A webcast and conference call are scheduled for 8:30 a.m. ET on the same day, featuring CEO Tim Gokey and CFO Edmund Reese. Investors can access the live event via Broadridge's Investor Relations website, as well as dial in for audio. Webcast replays will be available until August 19, 2022.