Teacher Retirement System of Texas raised its position in Discover Financial Services (NYSE:DFS) by 20.6% during the second quarter, Holdings Channel reports. The firm owned 37,317 shares of the financial services provider’s stock after buying an additional 6,368 shares during the period. Teacher Retirement System of Texas’ holdings in Discover Financial Services were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. raised its position in shares of Discover Financial Services by 16.3% in the first quarter. Raymond James Trust N.A. now owns 13,376 shares of the financial services provider’s stock worth $681,000 after buying an additional 1,876 shares during the period. PGGM Investments raised its position in shares of Discover Financial Services by 2.5% in the first quarter. PGGM Investments now owns 299,868 shares of the financial services provider’s stock worth $15,269,000 after buying an additional 7,268 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Discover Financial Services by 6.0% in the first quarter. Glenmede Trust Co. NA now owns 238,619 shares of the financial services provider’s stock worth $12,150,000 after buying an additional 13,452 shares during the last quarter. Commonwealth Equity Services Inc raised its position in shares of Discover Financial Services by 26.6% in the first quarter. Commonwealth Equity Services Inc now owns 38,470 shares of the financial services provider’s stock worth $1,959,000 after buying an additional 8,090 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Discover Financial Services during the first quarter worth about $477,000. 85.40% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.40% during midday trading on Friday, hitting $57.57. The stock had a trading volume of 1,183,694 shares. The firm has a market capitalization of $23.24 billion, a PE ratio of 10.82 and a beta of 1.20. Discover Financial Services has a 1-year low of $42.86 and a 1-year high of $60.29. The company’s 50 day moving average price is $58.27 and its 200-day moving average price is $54.98.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the 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%. Equities analysts predict that Discover Financial Services will post $5.72 earnings per share for the current year.

A number of brokerages have issued reports on DFS. Nomura reaffirmed a “buy” rating on shares of Discover Financial Services in a research note on Saturday, July 9th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Discover Financial Services in a research note on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Discover Financial Services in a research note on Sunday, June 26th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Discover Financial Services in a research note on Thursday, June 30th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $59.00 price target on shares of Discover Financial Services in a research note on Wednesday, June 15th. 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 stock. Discover Financial Services currently has a consensus rating of “Buy” and an average target price of $63.74.

In related news, SVP Edward W. Mcgrogan sold 1,300 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $56.69, for a total value of $73,697.00. Following the sale, the senior vice president now directly owns 12,072 shares of the company’s stock, valued at approximately $684,361.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Nelms sold 15,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $53.61, for a total transaction of $804,150.00. Following the completion of 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. 1.07% of the stock is currently owned by insiders.

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, 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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