Russell Investments Group Ltd. Sells 64,633 Shares of Discover Financial Services (NYSE:DFS)

Russell Investments Group Ltd. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 15.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,554 shares of the financial services provider’s stock after selling 64,633 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Discover Financial Services worth $28,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in DFS. LVM Capital Management Ltd. MI grew its holdings in shares of Discover Financial Services by 1.0% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 110,505 shares of the financial services provider’s stock valued at $8,574,000 after purchasing an additional 1,139 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Discover Financial Services by 29.6% during the 2nd quarter. DNB Asset Management AS now owns 74,185 shares of the financial services provider’s stock valued at $5,756,000 after purchasing an additional 16,947 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Discover Financial Services by 14.6% during the 2nd quarter. WINTON GROUP Ltd now owns 404,218 shares of the financial services provider’s stock worth $31,363,000 after acquiring an additional 51,430 shares during the last quarter. Supplemental Annuity Collective Trust of NJ bought a new stake in Discover Financial Services during the 2nd quarter worth approximately $310,000. Finally, New Jersey Better Educational Savings Trust bought a new stake in Discover Financial Services during the 2nd quarter worth approximately $233,000. 84.95% of the stock is currently owned by institutional investors.

DFS has been the topic of a number of research reports. Nomura boosted their target price on shares of Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Co boosted their target price on shares of Discover Financial Services from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on shares of Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, September 9th. Finally, Credit Suisse Group boosted their target price on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $86.65.

Shares of NYSE DFS opened at $84.35 on Friday. The company has a market capitalization of $26.05 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.62. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $92.98. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.28. The company’s 50 day moving average price is $80.22 and its 200-day moving average price is $80.42.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.07. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.89 billion. Discover Financial Services had a net margin of 20.97% and a return on equity of 26.79%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. Analysts forecast that Discover Financial Services will post 9.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.44 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.09%. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.59%.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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