National Pension Service increased its position in Discover Financial Services (NYSE:DFS) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 670,291 shares of the financial services provider’s stock after purchasing an additional 23,892 shares during the period. National Pension Service owned 0.25% of Discover Financial Services worth $61,278,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in shares of Discover Financial Services by 155.1% during the third quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock valued at $27,000 after buying an additional 183 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in Discover Financial Services during the 2nd quarter valued at approximately $28,000. Northern Oak Wealth Management Inc. grew its holdings in Discover Financial Services by 200.0% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 300 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. CI Investments Inc. boosted its holdings in shares of Discover Financial Services by 982.4% in the 3rd quarter. CI Investments Inc. now owns 368 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 334 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $34,000. 81.74% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Robert Andrew Eichfeld sold 13,477 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $114.18, for a total value of $1,538,803.86. Following the completion of the transaction, the executive vice president now directly owns 31,509 shares in the company, valued at $3,597,697.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Carlos Minetti sold 7,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $118.00, for a total value of $826,000.00. Following the sale, the executive vice president now directly owns 114,493 shares in the company, valued at $13,510,174. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Andrew Eichfeld sold 13,477 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $114.18, for a total value of $1,538,803.86. Following the completion of the sale, the executive vice president now owns 31,509 shares in the company, valued at $3,597,697.62. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by company insiders.
Discover Financial Services Stock Performance
Discover Financial Services (NYSE:DFS – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.19. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Discover Financial Services had a return on equity of 33.88% and a net margin of 28.89%. The business’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.64 earnings per share. On average, equities analysts expect that Discover Financial Services will post 13.65 EPS for the current year.
Discover Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Thursday, February 23rd were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $2.40 annualized dividend and a yield of 2.49%. Discover Financial Services’s payout ratio is 15.49%.
Analyst Ratings Changes
DFS has been the subject of a number of recent research reports. Morgan Stanley cut Discover Financial Services from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a report on Wednesday, February 8th. StockNews.com assumed coverage on Discover Financial Services in a research note on Thursday. They set a “hold” rating for the company. Credit Suisse Group decreased their price target on Discover Financial Services from $123.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Bank of America raised Discover Financial Services from an “underperform” rating to a “neutral” rating and set a $107.00 target price for the company in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on Discover Financial Services from $103.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 15th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $117.33.
Discover Financial Services Company Profile
Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.
- Get a free copy of the StockNews.com research report on Discover Financial Services (DFS)
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