Robecosam AG decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,193 shares of the financial services provider’s stock after selling 2,388 shares during the quarter. Robecosam AG’s holdings in Discover Financial Services were worth $12,260,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of DFS. Grove Bank & Trust increased its stake in Discover Financial Services by 2,483.3% during the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,490 shares in the last quarter. Rational Advisors LLC acquired a new position in Discover Financial Services during the 3rd quarter valued at approximately $123,000. Americafirst Capital Management LLC acquired a new position in Discover Financial Services during the 3rd quarter valued at approximately $140,000. Focused Wealth Management Inc acquired a new position in Discover Financial Services during the 4th quarter valued at approximately $177,000. Finally, Arbor Investment Advisors LLC acquired a new position in Discover Financial Services during the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 86.88% of the company’s stock.
DFS has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Argus upgraded shares of Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, January 26th. Instinet cut their price target on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Morgan Stanley upped their price target on shares of Discover Financial Services from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $73.00 to $93.00 in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $85.61.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $1.85 billion. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. equities analysts expect that Discover Financial Services will post 7.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.79%. Discover Financial Services’s dividend payout ratio is presently 23.53%.
In related news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $76.78, for a total transaction of $1,171,509.24. Following the sale, the chief operating officer now owns 723,666 shares in the company, valued at $55,563,075.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $76.74, for a total transaction of $2,302,200.00. Following the sale, the chief executive officer now owns 1,409,912 shares in the company, valued at approximately $108,196,646.88. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 39,000 shares of company stock worth $11,670 and have sold 242,674 shares worth $19,140,541. 0.96% of the stock is currently owned by company insiders.
About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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