Discover Financial Services (NYSE:DFS) Stake Lifted by Healthcare of Ontario Pension Plan Trust Fund


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Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Discover Financial Services (NYSE:DFS) by 161.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,807 shares of the financial services provider’s stock after purchasing an additional 64,707 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Discover Financial Services were worth $9,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in shares of Discover Financial Services by 4.2% during the 4th quarter. Aperio Group LLC now owns 216,349 shares of the financial services provider’s stock valued at $19,586,000 after purchasing an additional 8,650 shares during the period. Vision Capital Management Inc. grew its holdings in Discover Financial Services by 29.4% during the fourth quarter. Vision Capital Management Inc. now owns 73,660 shares of the financial services provider’s stock worth $6,668,000 after acquiring an additional 16,735 shares during the period. Wedgewood Investors Inc. PA bought a new stake in Discover Financial Services in the fourth quarter worth about $271,000. Rhumbline Advisers raised its position in Discover Financial Services by 0.3% in the fourth quarter. Rhumbline Advisers now owns 549,143 shares of the financial services provider’s stock worth $49,714,000 after acquiring an additional 1,473 shares in the last quarter. Finally, Waters Parkerson & CO. LLC lifted its holdings in Discover Financial Services by 1.5% in the 4th quarter. Waters Parkerson & CO. LLC now owns 329,076 shares of the financial services provider’s stock valued at $29,791,000 after acquiring an additional 4,745 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

In related news, EVP Carlos Minetti sold 19,260 shares of the stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $88.00, for a total value of $1,694,880.00. Following the transaction, the executive vice president now owns 147,293 shares in the company, valued at $12,961,784. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Hughes sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $93.91, for a total transaction of $939,100.00. Following the transaction, the executive vice president now directly owns 56,620 shares in the company, valued at approximately $5,317,184.20. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Several analysts recently commented on DFS shares. BMO Capital Markets increased their target price on shares of Discover Financial Services from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Oppenheimer reiterated a “hold” rating on shares of Discover Financial Services in a research report on Tuesday, December 29th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $72.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 19th. Argus boosted their target price on Discover Financial Services from $72.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Finally, Morgan Stanley upped their target price on Discover Financial Services from $107.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Discover Financial Services has an average rating of “Hold” and an average price target of $88.87.

Shares of DFS opened at $98.80 on Thursday. The company has a market capitalization of $30.27 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 4.21 and a beta of 1.80. Discover Financial Services has a fifty-two week low of $31.09 and a fifty-two week high of $104.49. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average is $96.52 and its 200-day moving average is $83.24.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.42 by $0.17. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a net margin of 7.89% and a return on equity of 11.00%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. Equities research analysts expect that Discover Financial Services will post 3.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Stockholders of record on Thursday, February 18th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, February 17th. Discover Financial Services’s dividend payout ratio is currently 19.38%.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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

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