Brown Advisory Inc. cut its position in Discover Financial Services (NYSE:DFS) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 41,234 shares of the financial services provider’s stock after selling 3,193 shares during the period. Brown Advisory Inc.’s holdings in Discover Financial Services were worth $2,209,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DFS. Ngam Advisors L.P. raised its stake in Discover Financial Services by 63.0% in the first quarter. Ngam Advisors L.P. now owns 152,359 shares of the financial services provider’s stock worth $7,758,000 after buying an additional 58,887 shares during the last quarter. Morris Capital Advisors LLC acquired a new stake in Discover Financial Services during the first quarter worth $381,000. WASHINGTON TRUST Co raised its stake in Discover Financial Services by 2.0% in the first quarter. WASHINGTON TRUST Co now owns 106,098 shares of the financial services provider’s stock worth $5,403,000 after buying an additional 2,052 shares during the last quarter. IFP Advisors Inc raised its stake in Discover Financial Services by 4.3% in the first quarter. IFP Advisors Inc now owns 6,257 shares of the financial services provider’s stock worth $319,000 after buying an additional 260 shares during the last quarter. Finally, Badgley Phelps & Bell Inc. raised its stake in Discover Financial Services by 3.6% in the first quarter. Badgley Phelps & Bell Inc. now owns 166,068 shares of the financial services provider’s stock worth $8,456,000 after buying an additional 5,803 shares during the last quarter. Hedge funds and other institutional investors own 85.40% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.10% on Friday, hitting $57.74. 556,300 shares of the company were exchanged. The company has a 50-day moving average price of $58.27 and a 200 day moving average price of $54.98. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29. The firm has a market cap of $23.31 billion, a P/E ratio of 10.85 and a beta of 1.20.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a net margin of 22.41% and a return on equity of 21.15%. Analysts predict that Discover Financial Services will post $5.72 EPS for the current fiscal year.

Several analysts recently commented on the stock. Jefferies Group raised their price target on shares of Discover Financial Services from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, September 1st. Barclays PLC lowered shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 7th. Deutsche Bank AG restated a “buy” rating and set a $63.00 price target on shares of Discover Financial Services in a research report on Thursday, August 18th. Credit Suisse Group AG restated a “buy” rating on shares of Discover Financial Services in a research report on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 9th. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.74.

In other Discover Financial Services news, COO Roger C. Hochschild sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $53.72, for a total transaction of $537,200.00. Following the sale, the chief operating officer now directly owns 865,772 shares of the company’s stock, valued at approximately $46,509,271.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $53.61, for a total transaction of $804,150.00. Following the sale, the chief executive officer now directly owns 1,772,014 shares in the company, valued at $94,997,670.54. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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