Camelot Portfolios LLC cut its stake in Discover Financial Services (NYSE:DFS) by 10.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,744 shares of the financial services provider’s stock after selling 1,040 shares during the period. Camelot Portfolios LLC’s holdings in Discover Financial Services were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 valued at $2,099,886,000 after buying an additional 29,796,268 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Discover Financial Services by 1,458.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,559,909 shares of the financial services provider’s stock valued at $221,391,000 after buying an additional 3,331,498 shares during the last quarter. Primecap Management Co. CA boosted its stake in 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 valued at $456,961,000 after buying an additional 1,088,500 shares during the last quarter. AQR Capital Management LLC boosted its stake in Discover Financial Services by 42.9% in the first quarter. AQR Capital Management LLC now owns 3,539,440 shares of the financial services provider’s stock valued at $242,063,000 after buying an additional 1,062,007 shares during the last quarter. Finally, Janus Capital Management LLC boosted its stake in Discover Financial Services by 85.4% in the first quarter. Janus Capital Management LLC now owns 1,609,893 shares of the financial services provider’s stock valued at $110,101,000 after buying an additional 741,786 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE DFS) opened at 61.04 on Monday. The firm has a 50-day moving average of $61.27 and a 200-day moving average of $64.93. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 10.53 and a beta of 1.46. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by $0.05. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the business posted $1.47 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Discover Financial Services will post $5.93 EPS for the current year.

Discover Financial Services declared that its board has initiated a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.23 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.73%.

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Several analysts have commented on DFS shares. Instinet reaffirmed a “buy” rating and issued a $86.00 target price (down from $88.00) on shares of Discover Financial Services in a research note on Saturday, April 29th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $84.00 target price on shares of Discover Financial Services in a research note on Monday, April 10th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $70.00 target price (down from $80.00) on shares of Discover Financial Services in a research note on Sunday, May 21st. ValuEngine cut shares of Discover Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Deutsche Bank AG cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and lowered their target price for the stock from $87.00 to $71.00 in a research note on Monday, May 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $74.21.

In related news, EVP Carlos Minetti sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $61.29, for a total value of $490,320.00. Following the transaction, the executive vice president now directly owns 197,149 shares in the company, valued at approximately $12,083,262.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Insiders sold a total of 107,744 shares of company stock worth $6,658,830 over the last quarter. 0.96% of the stock is currently owned by company 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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