Donnelley Financial Solutions (NYSE:DFIN) Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. has reduced its stake in Donnelley Financial Solutions by 22.9%, selling 11,968 shares and now owns approximately 0.15% of the company valued at $1,759,000.
• While Assetmark sold shares, other institutional investors like Wells Fargo and Arrowstreet Capital have increased their positions, highlighting strong institutional interest as they now own 93.84% of the stock.
• Donnelley Financial Solutions reported a quarterly earnings of $1.24 EPS, significantly surpassing expectations, and had a revenue of $201.10 million, despite a slight year-over-year decline.

Assetmark Inc. lowered its stake in shares of Donnelley Financial Solutions (NYSE:DFIN - Free Report) by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,232 shares of the company's stock after selling 11,968 shares during the quarter. Assetmark Inc. owned about 0.15% of Donnelley Financial Solutions worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Donnelley Financial Solutions by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 595,344 shares of the company's stock worth $37,347,000 after acquiring an additional 39,980 shares during the last quarter. Northern Trust Corp grew its holdings in Donnelley Financial Solutions by 17.2% during the 4th quarter. Northern Trust Corp now owns 545,203 shares of the company's stock valued at $34,201,000 after buying an additional 79,848 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Donnelley Financial Solutions during the 4th quarter valued at $26,329,000. Port Capital LLC acquired a new stake in Donnelley Financial Solutions during the 4th quarter valued at $23,114,000. Finally, Tidal Investments LLC acquired a new stake in Donnelley Financial Solutions during the 4th quarter valued at $19,595,000. Hedge funds and other institutional investors own 93.84% of the company's stock.

Insider Activity

In other news, insider Craig Clay sold 11,022 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $54.03, for a total transaction of $595,518.66. Following the completion of the transaction, the insider directly owned 143,448 shares in the company, valued at approximately $7,750,495.44. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.30% of the company's stock.

Donnelley Financial Solutions Stock Down 3.6%

Donnelley Financial Solutions stock traded down $1.89 during trading on Friday, reaching $51.07. 625,757 shares of the company's stock were exchanged, compared to its average volume of 210,265. The company's 50-day moving average is $59.98 and its two-hundred day moving average is $54.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 1.29. Donnelley Financial Solutions has a 52-week low of $37.80 and a 52-week high of $70.55. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 18.05 and a beta of 1.07.

Donnelley Financial Solutions (NYSE:DFIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.42 by $0.07. Donnelley Financial Solutions had a net margin of 10.87% and a return on equity of 20.03%. The business had revenue of $218.10 million for the quarter, compared to analysts' expectations of $226.13 million. During the same quarter last year, the company posted $1.47 earnings per share. The company's quarterly revenue was down 10.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

DFIN has been the subject of several recent analyst reports. DA Davidson restated a "buy" rating and issued a $72.00 price target on shares of Donnelley Financial Solutions in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Donnelley Financial Solutions in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded Donnelley Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday.

Donnelley Financial Solutions Profile

Donnelley Financial Solutions, Inc provides innovative software and technology-enabled financial regulatory and compliance solutions in the United States, Asia, Europe, Canada, and internationally. It operates through four segments: Capital Markets Software Solutions (CM-SS); Capital Markets Compliance and Communications Management (CM-CCM); Investment Companies Software Solutions (IC-SS); and Investment Companies Compliance and Communications Management (IC-CCM).