Legal & General Group Plc Purchases New Position in Donnelley Financial Solutions $DFIN

Legal & General Group Plc acquired a new position in Donnelley Financial Solutions (NYSE:DFIN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,771 shares of the company’s stock, valued at approximately $2,340,000. Legal & General Group Plc owned about 0.23% of Donnelley Financial Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Donnelley Financial Solutions in the 2nd quarter worth $165,182,000. Alberta Investment Management Corp bought a new position in shares of Donnelley Financial Solutions during the second quarter valued at $44,157,000. Rice Hall James & Associates LLC purchased a new stake in shares of Donnelley Financial Solutions during the second quarter valued at $32,516,000. William Blair Investment Management LLC purchased a new stake in shares of Donnelley Financial Solutions during the second quarter valued at $26,510,000. Finally, Alliancebernstein L.P. raised its position in Donnelley Financial Solutions by 1,842.6% in the 2nd quarter. Alliancebernstein L.P. now owns 592,653 shares of the company’s stock worth $36,537,000 after buying an additional 562,144 shares during the last quarter. 93.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DFIN has been the topic of several research reports. Weiss Ratings upgraded shares of Donnelley Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Wall Street Zen lowered shares of Donnelley Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Needham & Company LLC increased their price target on Donnelley Financial Solutions from $57.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Zacks Research downgraded Donnelley Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Donnelley Financial Solutions Stock Up 3.7%

Shares of DFIN stock opened at $50.89 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. Donnelley Financial Solutions has a 12 month low of $36.11 and a 12 month high of $57.37. The stock has a market cap of $1.25 billion, a P/E ratio of 35.10 and a beta of 0.71. The company has a 50 day simple moving average of $47.68 and a two-hundred day simple moving average of $45.90.

Donnelley Financial Solutions (NYSE:DFIN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $224.20 million during the quarter, compared to the consensus estimate of $221.40 million. Donnelley Financial Solutions had a net margin of 4.53% and a return on equity of 25.82%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. On average, research analysts expect that Donnelley Financial Solutions will post 4.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph Leo Binz purchased 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was acquired at an average price of $48.27 per share, with a total value of $724,050.00. Following the completion of the acquisition, the director owned 18,924 shares of the company’s stock, valued at approximately $913,461.48. This trade represents a 382.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.

Donnelley Financial Solutions Profile

Donnelley Financial Solutions (NYSE:DFIN) offers risk and compliance software and managed services designed to help corporations, financial institutions and legal firms meet regulatory and reporting requirements worldwide. Headquartered in Chicago, the company delivers a cloud-based platform for regulatory filings, content automation, virtual data rooms and board communications. Its solutions are tailored to support public companies with SEC, FCA and other global filing obligations, as well as banks, asset managers and credit unions seeking to streamline compliance workflows.

Among DFIN’s flagship products is ActiveDisclosure, a SaaS application that automates the creation, review and filing of disclosure documents.