JPMorgan Chase & Co. Sells 10,501 Shares of Deluxe Co. (DLX)

JPMorgan Chase & Co. cut its stake in Deluxe Co. (NYSE:DLX) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,188 shares of the business services provider’s stock after selling 10,501 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Deluxe worth $13,792,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Deluxe in the second quarter valued at $101,000. NumerixS Investment Technologies Inc purchased a new stake in Deluxe during the 2nd quarter worth about $132,000. Stratos Wealth Partners LTD. purchased a new stake in Deluxe during the 3rd quarter worth about $114,000. Paloma Partners Management Co purchased a new stake in Deluxe during the 2nd quarter worth about $300,000. Finally, Country Club Trust Company n.a. purchased a new stake in Deluxe during the 2nd quarter worth about $311,000. Hedge funds and other institutional investors own 90.38% of the company’s stock.

Shares of NYSE DLX opened at $45.91 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 8.42 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. Deluxe Co. has a 1 year low of $43.72 and a 1 year high of $78.87.

Deluxe (NYSE:DLX) last announced its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.08. The company had revenue of $493.20 million during the quarter. Deluxe had a return on equity of 26.00% and a net margin of 9.00%. On average, equities research analysts expect that Deluxe Co. will post 5.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, November 16th. Deluxe’s dividend payout ratio (DPR) is 22.77%.

In other news, insider Keith A. Bush bought 2,020 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were acquired at an average price of $49.60 per share, for a total transaction of $100,192.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey Louis Cotter bought 2,035 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average price of $49.20 per share, for a total transaction of $100,122.00. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

A number of analysts have issued reports on the company. Buckingham Research assumed coverage on Deluxe in a report on Friday, October 12th. They set a “neutral” rating and a $56.00 price target for the company. TheStreet downgraded Deluxe from a “b-” rating to a “c+” rating in a report on Tuesday, August 21st.

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Deluxe Company Profile

Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.

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Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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