Discover Financial Services (NYSE:DFS) Shares Bought by CVA Family Office LLC

CVA Family Office LLC raised its stake in Discover Financial Services (NYSE:DFS) by 113.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 545 shares of the financial services provider’s stock after acquiring an additional 290 shares during the quarter. CVA Family Office LLC’s holdings in Discover Financial Services were worth $50,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ronald Blue Trust Inc. acquired a new position in shares of Discover Financial Services in the second quarter worth $28,000. Northern Oak Wealth Management Inc. raised its holdings in shares of Discover Financial Services by 200.0% in the second quarter. Northern Oak Wealth Management Inc. now owns 300 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Discover Financial Services by 155.1% in the third quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Discover Financial Services by 85.3% in the second quarter. SRS Capital Advisors Inc. now owns 365 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 168 shares during the last quarter. Finally, CI Investments Inc. raised its holdings in shares of Discover Financial Services by 982.4% in the third quarter. CI Investments Inc. now owns 368 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 334 shares during the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

DFS stock opened at $95.48 on Friday. The stock has a 50-day moving average price of $110.18 and a two-hundred day moving average price of $103.49. Discover Financial Services has a 12-month low of $87.64 and a 12-month high of $121.17. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.49. The company has a market cap of $25.01 billion, a PE ratio of 6.16, a price-to-earnings-growth ratio of 1.31 and a beta of 1.46.

Discover Financial Services (NYSE:DFS – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.19. Discover Financial Services had a return on equity of 33.88% and a net margin of 28.89%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business earned $3.64 earnings per share. The company’s revenue was up 27.1% compared to the same quarter last year. As a group, research analysts predict that Discover Financial Services will post 13.65 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Thursday, February 23rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, February 22nd. Discover Financial Services’s payout ratio is 15.49%.

Insider Transactions at Discover Financial Services

In other news, EVP Carlos Minetti sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $118.00, for a total value of $826,000.00. Following the completion of the sale, the executive vice president now owns 114,493 shares of the company’s stock, valued at $13,510,174. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Carlos Minetti sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $118.00, for a total value of $826,000.00. Following the transaction, the executive vice president now owns 114,493 shares in the company, valued at $13,510,174. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Andrew Eichfeld sold 13,477 shares of the business’s stock in a transaction dated 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 owns 31,509 shares in the company, valued at approximately $3,597,697.62. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America upgraded Discover Financial Services from an “underperform” rating to a “neutral” rating and set a $107.00 target price for the company in a research note on Wednesday. StockNews.com assumed coverage on Discover Financial Services in a research note on Thursday. They issued a “hold” rating for the company. Credit Suisse Group dropped their target price 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. Morgan Stanley lowered Discover Financial Services from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a research note on Wednesday, February 8th. Finally, BMO Capital Markets dropped their target price on Discover Financial Services from $119.00 to $111.00 and set a “market perform” rating for the company in a research note on Friday, January 20th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $117.33.

About Discover Financial Services

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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.