Royal Bank of Canada Has $13.50 Million Stock Holdings in Deluxe Corporation $DLX

Royal Bank of Canada decreased its stake in Deluxe Corporation (NYSE:DLX) by 21.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,162 shares of the business services provider’s stock after selling 136,848 shares during the period. Royal Bank of Canada’s holdings in Deluxe were worth $13,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DLX. Towle & Co. acquired a new position in Deluxe during the first quarter valued at approximately $7,963,000. AQR Capital Management LLC increased its position in shares of Deluxe by 99.7% during the 2nd quarter. AQR Capital Management LLC now owns 543,359 shares of the business services provider’s stock worth $8,645,000 after purchasing an additional 271,225 shares during the last quarter. Invesco Ltd. raised its stake in shares of Deluxe by 56.8% during the 4th quarter. Invesco Ltd. now owns 681,181 shares of the business services provider’s stock worth $15,211,000 after purchasing an additional 246,767 shares in the last quarter. Sei Investments Co. raised its stake in shares of Deluxe by 189.4% during the 1st quarter. Sei Investments Co. now owns 367,278 shares of the business services provider’s stock worth $10,115,000 after purchasing an additional 240,359 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Deluxe by 49.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 634,447 shares of the business services provider’s stock valued at $10,094,000 after buying an additional 211,109 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

Deluxe Stock Performance

Shares of NYSE:DLX opened at $25.00 on Friday. Deluxe Corporation has a 12-month low of $17.76 and a 12-month high of $32.07. The company’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $26.10. The firm has a market cap of $1.14 billion, a PE ratio of 11.11, a PEG ratio of 0.66 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 2.02.

Deluxe (NYSE:DLX) last issued its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $499.30 million during the quarter, compared to analysts’ expectations of $486.30 million. Deluxe had a return on equity of 23.51% and a net margin of 4.91%.The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that Deluxe Corporation will post 3.3 earnings per share for the current year.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, August 18th. Deluxe’s dividend payout ratio is presently 53.33%.

Analysts Set New Price Targets

DLX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Deluxe from a “strong-buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded shares of Deluxe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Zacks Research downgraded shares of Deluxe from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Deluxe Profile

Deluxe Corporation, founded in 1915 and headquartered in Shoreview, Minnesota, is a provider of integrated business and financial technology solutions. Originally established as a check printing company, Deluxe has evolved its offerings to support small businesses, financial institutions and entrepreneurs with a comprehensive suite of services spanning print, digital and software platforms.

The company’s core business activities include printing checks, forms and promotional materials, as well as delivering digital marketing and customer engagement solutions.