Amica Mutual Insurance Co. Has $2,536,000 Position in Discover Financial Services (DFS)
Amica Mutual Insurance Co. held its stake in Discover Financial Services (NYSE:DFS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,850 shares of the financial services provider’s stock at the end of the third quarter. Amica Mutual Insurance Co.’s holdings in Discover Financial Services were worth $2,536,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of DFS. Vanguard Group Inc. boosted its stake in Discover Financial Services by 1.6% in the second quarter. Vanguard Group Inc. now owns 25,018,247 shares of the financial services provider’s stock worth $1,340,727,000 after buying an additional 394,393 shares in the last quarter. Boston Partners boosted its stake in Discover Financial Services by 11.9% in the second quarter. Boston Partners now owns 16,727,596 shares of the financial services provider’s stock worth $896,432,000 after buying an additional 1,784,386 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Discover Financial Services by 5.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,449,239 shares of the financial services provider’s stock worth $292,024,000 after buying an additional 292,366 shares in the last quarter. Bank of Montreal Can acquired a new stake in Discover Financial Services during the second quarter worth $287,715,000. Finally, BlackRock Advisors LLC boosted its stake in Discover Financial Services by 9.1% in the second quarter. BlackRock Advisors LLC now owns 4,986,349 shares of the financial services provider’s stock worth $267,219,000 after buying an additional 417,380 shares in the last quarter. Institutional investors own 83.54% of the company’s stock.
Shares of Discover Financial Services (NYSE:DFS) traded down 0.19% on Tuesday, reaching $67.62. The company’s stock had a trading volume of 2,568,432 shares. The stock has a market capitalization of $26.67 billion, a PE ratio of 12.31 and a beta of 1.39. Discover Financial Services has a 1-year low of $42.86 and a 1-year high of $68.88. The stock has a 50-day moving average of $59.64 and a 200 day moving average of $57.23.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio (DPR) is presently 21.74%.
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DFS has been the topic of several research reports. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. Jefferies Group reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Friday, August 12th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Tuesday, August 23rd. Deutsche Bank AG set a $65.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, October 5th. Finally, Stephens initiated coverage on Discover Financial Services in a report on Friday, November 18th. They set an “underweight” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.54.
In other news, EVP Diane E. Offereins sold 10,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.45, for a total value of $564,500.00. Following the completion of the transaction, the executive vice president now directly owns 308,962 shares in the company, valued at $17,440,904.90. 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 stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.46, for a total transaction of $846,900.00. Following the completion of the transaction, the chief executive officer now owns 1,727,268 shares of the company’s stock, valued at $97,521,551.28. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.
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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