Advisors Asset Management Inc. Has $1.40 Million Stock Holdings in Deluxe Corporation $DLX

Key Points

• Advisors Asset Management Inc. increased its stake in Deluxe Corporation by 47.6%, acquiring an additional 28,446 shares, bringing its total ownership to approximately 0.20% of the company, valued at $1,395,000.
• Deluxe Corporation's shares rose by 3.7%, trading at $19.81, with a market cap of $889.03 million and a PE ratio of 15.36.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 6.1%, with a dividend payout ratio of 93.02%.

Advisors Asset Management Inc. boosted its position in Deluxe Corporation (NYSE:DLX - Free Report) by 47.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,217 shares of the business services provider's stock after buying an additional 28,446 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.20% of Deluxe worth $1,395,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Deluxe by 1,067.0% during the 1st quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock worth $35,000 after purchasing an additional 2,038 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Deluxe by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider's stock worth $3,486,000 after acquiring an additional 5,782 shares during the period. Nuveen LLC bought a new position in shares of Deluxe during the 1st quarter worth approximately $5,281,000. LSV Asset Management boosted its stake in shares of Deluxe by 1.7% during the 1st quarter. LSV Asset Management now owns 1,848,739 shares of the business services provider's stock worth $29,229,000 after acquiring an additional 30,608 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Deluxe by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider's stock worth $569,000 after acquiring an additional 835 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DLX. Cowen reiterated a "buy" rating on shares of Deluxe in a research note on Thursday, August 7th. Wall Street Zen downgraded Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Deluxe has an average rating of "Moderate Buy" and an average price target of $23.00.

Deluxe Stock Performance

DLX traded down $0.12 during trading on Friday, hitting $19.69. The stock had a trading volume of 80,941 shares, compared to its average volume of 372,335. The company has a 50 day moving average price of $17.98 and a 200-day moving average price of $16.24. The firm has a market cap of $883.79 million, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.52 and a beta of 1.53. Deluxe Corporation has a one year low of $13.61 and a one year high of $24.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85.

Deluxe (NYSE:DLX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.17. The business had revenue of $521.30 million during the quarter, compared to the consensus estimate of $526.93 million. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.The firm's quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. As a group, research analysts predict that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.20 annualized dividend and a yield of 6.1%. Deluxe's payout ratio is currently 93.02%.

About Deluxe

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.