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Broadridge Financial Solutions Inc. (NYSE: BR) is a leading global provider of investor communications and technology-driven solutions for wealth management, asset management, and capital markets firms. Since its spin-off from ADP in 2007, Broadridge has been at the forefront of financial technology innovation, helping clients manage risk, achieve operational excellence, and drive growth.
Broadridge operates through two main segments: Investor Communication Solutions (ICS) and Global Technology and Operations (GTO). The ICS segment offers comprehensive solutions for proxy voting, regulatory communications, and shareholder engagement, while the GTO segment delivers advanced technology services and outsourcing solutions for trading, portfolio management, and back-office operations.
With over $6 billion in annual revenues and a presence in 21 countries, Broadridge's infrastructure supports the daily trading of more than $10 trillion of equities, fixed income, and other securities globally. The company serves a diverse clientele, including banks, broker-dealers, asset managers, wealth managers, and corporate issuers, providing the critical infrastructure needed to power investing, corporate governance, and communications.
Recent achievements highlight Broadridge's commitment to innovation and growth. The company has reported steady financial performance, including 6% organic recurring revenue growth for the second quarter of fiscal year 2024 and a reaffirmation of its annual guidance. Broadridge continues to enhance its product offerings, such as launching the Broadridge Investor Insights analytics platform to provide issuers with comprehensive investor and voting pattern data.
Broadridge also actively addresses key industry trends like the digitization of communications, mutualization of capabilities, and the evolving landscape of data and analytics. The company's strategic partnerships with financial institutions and corporate issuers worldwide further solidify its position as an industry leader.
Broadridge is a certified Great Place to Work®, employing over 14,000 associates dedicated to delivering unparalleled value to clients and fostering a culture of innovation. For more information about Broadridge and its solutions, visit their website.
Broadridge Financial Solutions (NYSE: BR) reveals insights from its latest customer experience study, highlighting significant shifts in consumer behavior during the COVID-19 pandemic. While 70% of consumers increased digital interactions, 60% feel companies must enhance their customer experience, particularly millennials at 71%. The study of 3,000 North American consumers found a sustained preference for print communications, with 76% wanting physical mail even three years from now. Personalization is critical, as 43% of consumers have switched providers due to poor experiences, emphasizing the need for brands to optimize both digital and print channels.
Broadridge Financial Solutions (NYSE: BR) announced that its subsidiary LTX received U.S. Patent No. 10922773 for the RFX digital trading protocol, enhancing corporate bond trading. This AI-driven technology aims to boost liquidity and execution efficiency for broker-dealers and their clients, processing over $10 trillion in trades daily. The protocol allows brokers to better aggregate liquidity and deliver improved trade executions. The patent marks a significant advancement in the bond market, considered the most important innovation in 20 years.
Broadridge Financial Solutions' recent survey reveals that over 50% of financial firms plan to increase spending on emerging technologies like AI and blockchain in the next two years. IT budget allocation for these technologies is expected to rise from 11.8% to 15.7%, with leaders aiming for nearly 20%. The study indicates that leaders in tech adoption reported a 2.55% profit margin increase and 4.04% revenue growth, outperforming non-leaders. Cloud technology was found to be critical for operational improvements, followed by AI and digital solutions.
Broadridge Financial Solutions (NYSE: BR) announced participation in two key investor events. The first is the Raymond James 42nd Annual Institutional Investors – Virtual Conference on March 1, 2021, featuring CEO Tim Gokey at 12:30 PM ET. The second event is the Fifth Annual Evercore ISI Payments & FinTech Innovators – Virtual Forum on March 4, 2021, with CFO Edmund Reese speaking at 2:45 PM ET. Webcasts for both events will be available on Broadridge's Investor Relations website.
Broadridge Financial Solutions (NYSE: BR) has declared a quarterly cash dividend of $0.575 per share, payable on April 2, 2021, to stockholders of record as of March 15, 2021. As a global fintech leader with a market capitalization of $4.5 billion, Broadridge provides technology-driven solutions for banks and asset managers. The company processes an average of $10 trillion in trades daily and supports proxy voting for over 50% of public companies globally, reaffirming its expertise in investor communications.
Broadridge Financial Solutions reported strong financial results for Q2 and the first six months of fiscal year 2021. Total revenues rose by 9% to $1,055 million in Q2, while recurring fee revenues increased 7% to $696 million. Operating income surged 197% to $79 million, boosting diluted EPS to $0.48, a 433% year-over-year increase. The company forecasts full-year recurring revenue growth of 3-6% and adjusted EPS growth of 6-10%, expecting to meet the higher end of its guidance.
Broadridge Financial Solutions (NYSE: BR) has begun developing its role as an Approved SFT Submitter in collaboration with DTCC for a new Securities Financing Transaction (SFT) Clearing service. This service will enhance central clearing and settlement for overnight equity loans and borrowings. Slated for launch in Q3 2021, pending regulatory approval, the service aims to improve market access, reduce risks, and optimize capital usage for clients. The initiative reflects Broadridge's ongoing commitment to advancing efficiency in the securities finance market.
Broadridge Financial Solutions (NYSE: BR) has been selected by Cecabank, a major Spanish custodian bank, to implement its automated global proxy voting solution, enhancing compliance with the new Shareholder Rights Directive (SRD II). This initiative aims to streamline shareholder involvement in corporate governance, ensuring transparency and efficient communication. The solution is already operational, supporting Cecabank's diverse client base with enhanced governance standards. Broadridge has successfully completed over 220 implementations of its SRD II solutions, indicating strong market demand.
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