Trust Investment Advisors cut its position in Discover Financial Services (NYSE:DFS) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 18,826 shares of the financial services provider’s stock after selling 24 shares during the period. Trust Investment Advisors’ holdings in Discover Financial Services were worth $1,171,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Discover Financial Services by 3,280.4% in the first quarter. BlackRock Inc. now owns 30,704,582 shares of the financial services provider’s stock worth $2,099,886,000 after buying an additional 29,796,268 shares during the period. Vanguard Group Inc. boosted its stake in shares of Discover Financial Services by 1.3% in the first quarter. Vanguard Group Inc. now owns 25,530,944 shares of the financial services provider’s stock worth $1,746,060,000 after buying an additional 321,312 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Discover Financial Services by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 12,546,613 shares of the financial services provider’s stock worth $858,062,000 after buying an additional 91,440 shares during the period. Primecap Management Co. CA boosted its stake in shares of Discover Financial Services by 19.5% in the first quarter. Primecap Management Co. CA now owns 6,681,700 shares of the financial services provider’s stock worth $456,961,000 after buying an additional 1,088,500 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Discover Financial Services by 10.6% in the first quarter. Bank of Montreal Can now owns 5,427,026 shares of the financial services provider’s stock worth $371,154,000 after buying an additional 520,197 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

Shares of Discover Financial Services (DFS) opened at 61.04 on Friday. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The stock has a market cap of $22.73 billion, a PE ratio of 10.53 and a beta of 1.46. The company has a 50-day moving average of $61.27 and a 200 day moving average of $64.93.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.45 by $0.05. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. On average, analysts predict that Discover Financial Services will post $5.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. Discover Financial Services’s payout ratio is currently 20.73%.

Discover Financial Services announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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A number of equities research analysts have weighed in on DFS shares. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. William Blair restated an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 18th. Deutsche Bank AG cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and cut their price objective for the stock from $87.00 to $71.00 in a report on Monday, May 1st. Instinet restated a “buy” rating and issued a $81.00 price objective (down previously from $86.00) on shares of Discover Financial Services in a report on Wednesday, July 12th. Finally, Wells Fargo & Company cut shares of Discover Financial Services to a “buy” rating and set a $70.00 price objective on the stock. in a report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Discover Financial Services currently has an average rating of “Buy” and an average target price of $74.21.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $62.48, for a total transaction of $953,319.84. Following the sale, the chief operating officer now owns 830,257 shares of the company’s stock, valued at approximately $51,874,457.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $61.13, for a total transaction of $1,833,900.00. Following the sale, the chief executive officer now directly owns 1,559,912 shares in the company, valued at approximately $95,357,420.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,744 shares of company stock worth $6,658,830. 0.96% of the stock is 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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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