Clearbridge Investments LLC trimmed its holdings in Discover Financial Services (NYSE:DFS) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 815,479 shares of the financial services provider’s stock after selling 14,419 shares during the period. Clearbridge Investments LLC owned 0.22% of Discover Financial Services worth $62,727,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of DFS. Grove Bank & Trust raised its holdings in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,490 shares during the period. Rational Advisors LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth about $123,000. Americafirst Capital Management LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth about $140,000. Focused Wealth Management Inc purchased a new position in shares of Discover Financial Services in the 4th quarter worth about $177,000. Finally, Arbor Investment Advisors LLC purchased a new position in shares of Discover Financial Services in the 4th quarter worth about $203,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Discover Financial Services (NYSE:DFS) opened at $77.33 on Wednesday. The company has a market capitalization of $27,724.25, a PE ratio of 14.29, a P/E/G ratio of 1.28 and a beta of 1.49. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.55. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.93.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.40 annualized dividend and a dividend yield of 1.81%. Discover Financial Services’s payout ratio is currently 25.88%.
In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 directly owns 723,666 shares in the company, valued at approximately $55,563,075.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total value of $307,240.00. Following the sale, the executive vice president now owns 134,744 shares in the company, valued at $10,349,686.64. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 39,000 shares of company stock worth $11,670 and have sold 242,674 shares worth $19,140,541. Company insiders own 0.96% of the company’s stock.
A number of equities analysts have recently commented on the company. Credit Suisse Group raised their price objective on Discover Financial Services from $91.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada cut their price objective on Discover Financial Services to $100.00 and set a “top pick” rating on the stock in a report on Thursday, January 25th. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, January 2nd. Wells Fargo & Co raised their price objective on Discover Financial Services from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, JMP Securities raised their price objective on Discover Financial Services to $91.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $85.61.
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Discover Financial Services Company Profile
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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