Donnelley Financial Solutions $DFIN Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 133,693 shares of Donnelley Financial Solutions in the second quarter, valued at approximately $5.6 million, giving it a 0.54% stake. Several other major institutions also initiated positions, and institutional investors collectively own 93.84% of DFIN.
• Donnelley Financial Solutions exceeded quarterly expectations, reporting EPS of $1.76 versus the $1.63 consensus and revenue of $224.2 million, up 2.8% year over year. An insider also purchased 15,000 shares for approximately $724,000.
• DFIN shares opened at $48.89, while analysts maintain a “Moderate Buy” consensus with an average price target of $61.00, implying upside from the current price.

Bank of America Corp DE acquired a new position in shares of Donnelley Financial Solutions (NYSE:DFIN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 133,693 shares of the company's stock, valued at approximately $5,608,000. Bank of America Corp DE owned 0.54% of Donnelley Financial Solutions as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DFIN. BlackRock Inc. acquired a new stake in Donnelley Financial Solutions in the 2nd quarter worth about $165,182,000. Alberta Investment Management Corp bought a new position in shares of Donnelley Financial Solutions during the second quarter worth approximately $44,157,000. Rice Hall James & Associates LLC acquired a new stake in shares of Donnelley Financial Solutions in the second quarter valued at approximately $32,516,000. William Blair Investment Management LLC bought a new stake in shares of Donnelley Financial Solutions in the second quarter valued at approximately $26,510,000. Finally, Algert Global LLC grew its position in Donnelley Financial Solutions by 90.9% during the second quarter. Algert Global LLC now owns 529,983 shares of the company's stock worth $22,233,000 after buying an additional 252,383 shares in the last quarter. Institutional investors own 93.84% of the company's stock.

Insider Buying and Selling at Donnelley Financial Solutions

In other Donnelley Financial Solutions news, Director Joseph Leo Binz purchased 15,000 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $48.27 per share, for a total transaction of $724,050.00. Following the acquisition, the director owned 18,924 shares of the company's stock, valued at approximately $913,461.48. This represents a 382.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.20% of the company's stock.

Donnelley Financial Solutions Price Performance

Shares of NYSE:DFIN opened at $48.89 on Monday. The firm has a market cap of $1.20 billion, a PE ratio of 33.72 and a beta of 0.71. The firm's fifty day moving average is $48.55 and its 200-day moving average is $45.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. Donnelley Financial Solutions has a 52 week low of $36.11 and a 52 week high of $56.26.

Donnelley Financial Solutions (NYSE:DFIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. Donnelley Financial Solutions had a net margin of 4.53% and a return on equity of 25.82%. The firm had revenue of $224.20 million for the quarter, compared to the consensus estimate of $221.40 million. During the same quarter in the previous year, the company earned $1.49 EPS. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts predict that Donnelley Financial Solutions will post 4.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

DFIN has been the subject of a number of analyst reports. Weiss Ratings raised Donnelley Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. Zacks Research downgraded shares of Donnelley Financial Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Donnelley Financial Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Donnelley Financial Solutions in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Donnelley Financial Solutions has a consensus rating of "Moderate Buy" and an average price target of $61.00.

About Donnelley Financial Solutions

Donnelley Financial Solutions, Inc NYSE: DFIN provides software and technology-enabled services for companies and investment firms involved in public and private capital markets. Its solutions are designed to help clients prepare, manage, file and distribute financial and regulatory information while supporting compliance and investor communications.

The company's offerings include SEC reporting and compliance software, transaction and filing services, financial communication solutions, and technology for investment companies and alternative investment managers.

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