SG Americas Securities LLC Sells 1,176 Shares of Discover Financial Services (NYSE:DFS)

SG Americas Securities LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,891 shares of the financial services provider’s stock after selling 1,176 shares during the period. SG Americas Securities LLC’s holdings in Discover Financial Services were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DFS. Koshinski Asset Management Inc. increased its position in shares of Discover Financial Services by 15.6% in the first quarter. Koshinski Asset Management Inc. now owns 680 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 92 shares during the period. Impax Asset Management Group plc increased its position in shares of Discover Financial Services by 1.0% in the fourth quarter. Impax Asset Management Group plc now owns 9,892 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 95 shares during the period. Cozad Asset Management Inc. increased its position in shares of Discover Financial Services by 5.1% in the first quarter. Cozad Asset Management Inc. now owns 2,121 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 102 shares during the period. Bowling Portfolio Management LLC increased its position in shares of Discover Financial Services by 0.6% in the first quarter. Bowling Portfolio Management LLC now owns 17,065 shares of the financial services provider’s stock valued at $1,880,000 after acquiring an additional 103 shares during the period. Finally, Benjamin Edwards Inc. increased its position in shares of Discover Financial Services by 43.9% in the fourth quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 104 shares during the period. 85.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11th. BMO Capital Markets reduced their price target on shares of Discover Financial Services from $131.00 to $118.00 and set a “maintains” rating on the stock in a research report on Monday, July 25th. Morgan Stanley reduced their price target on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Friday, July 22nd. Bank of America reduced their price target on shares of Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Finally, Wolfe Research cut shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price target on the stock. in a research report on Thursday, May 12th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Discover Financial Services Trading Up 1.5 %

Shares of NYSE DFS opened at $101.00 on Monday. The firm’s 50 day moving average price is $101.66 and its 200-day moving average price is $109.85. The company has a market cap of $28.38 billion, a PE ratio of 6.58, a P/E/G ratio of 0.22 and a beta of 1.48. Discover Financial Services has a 52-week low of $88.02 and a 52-week high of $135.69. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFSGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.19. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 35.59%. The business’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.55 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 15.19 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 25th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.38%. Discover Financial Services’s dividend payout ratio (DPR) is 15.63%.

Discover Financial Services Profile

(Get Rating)

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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