Great Lakes Advisors LLC Increases Position in Deluxe Corporation (DLX)
Great Lakes Advisors LLC boosted its stake in shares of Deluxe Corporation (NYSE:DLX) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,987 shares of the business services provider’s stock after buying an additional 1,817 shares during the period. Great Lakes Advisors LLC’s holdings in Deluxe Corporation were worth $1,176,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in DLX. BlackRock Inc. raised its position in shares of Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock valued at $374,639,000 after buying an additional 5,168,644 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Deluxe Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,133,898 shares of the business services provider’s stock valued at $298,344,000 after buying an additional 155,227 shares in the last quarter. LSV Asset Management raised its position in shares of Deluxe Corporation by 4.3% in the first quarter. LSV Asset Management now owns 1,900,050 shares of the business services provider’s stock valued at $137,126,000 after buying an additional 78,223 shares in the last quarter. State Street Corp raised its position in shares of Deluxe Corporation by 1.6% in the first quarter. State Street Corp now owns 1,598,176 shares of the business services provider’s stock valued at $115,345,000 after buying an additional 25,359 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Deluxe Corporation by 8.5% in the first quarter. Ameriprise Financial Inc. now owns 773,623 shares of the business services provider’s stock valued at $55,835,000 after buying an additional 60,898 shares in the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.
Deluxe Corporation (DLX) opened at 67.58 on Wednesday. The firm has a 50-day moving average price of $69.93 and a 200 day moving average price of $70.83. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 14.46 and a beta of 1.35. Deluxe Corporation has a 1-year low of $59.47 and a 1-year high of $75.94.
Deluxe Corporation (NYSE:DLX) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Deluxe Corporation had a return on equity of 27.83% and a net margin of 11.98%. The business had revenue of $485.20 million for the quarter, compared to analysts’ expectations of $479.42 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Deluxe Corporation will post $5.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, August 17th. Deluxe Corporation’s dividend payout ratio (DPR) is 25.64%.
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Several equities analysts have recently commented on DLX shares. BidaskClub upgraded Deluxe Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Tuesday, May 2nd.
In related news, Director Ronald C. Baldwin sold 2,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.41, for a total value of $144,820.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John D. Filby sold 18,936 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.21, for a total value of $1,367,368.56. Following the completion of the transaction, the vice president now owns 46,154 shares in the company, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Deluxe Corporation Company Profile
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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