Captrust Financial Advisors bought a new position in shares of Discover Financial Services (NYSE:DFS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,500 shares of the financial services provider’s stock, valued at approximately $280,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in shares of Discover Financial Services by 6.5% during the second quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock worth $57,286,000 after purchasing an additional 56,046 shares during the period. Annex Advisory Services LLC lifted its holdings in Discover Financial Services by 23.9% in the second quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after acquiring an additional 3,027 shares during the period. Bank of Nova Scotia lifted its holdings in Discover Financial Services by 171.5% in the first quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock valued at $6,045,000 after acquiring an additional 55,840 shares during the period. Calamos Advisors LLC lifted its holdings in Discover Financial Services by 120.3% in the second quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock valued at $39,453,000 after acquiring an additional 346,406 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Discover Financial Services by 3.2% in the first quarter. Pacer Advisors Inc. now owns 8,406 shares of the financial services provider’s stock valued at $575,000 after acquiring an additional 264 shares during the period. 86.21% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on DFS. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 price target (down from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BidaskClub downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Barclays PLC reissued an “equal weight” rating and issued a $70.00 price target (down from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Finally, Wells Fargo & Company downgraded Discover Financial Services to a “buy” rating and set a $70.00 price target for the company. in a report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.95.

TRADEMARK VIOLATION WARNING: This piece was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/09/15/4500-shares-in-discover-financial-services-dfs-purchased-by-captrust-financial-advisors.html.

In other news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction on Friday, September 1st. The shares were sold at an average price of $59.63, for a total value of $238,520.00. Following the completion of the sale, the executive vice president now directly owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The disclosure for this sale can be found here. Insiders have sold 157,002 shares of company stock valued at $9,580,337 in the last three months. 0.96% of the stock is currently owned by company insiders.

Shares of Discover Financial Services (NYSE DFS) traded up 0.63% during mid-day trading on Friday, hitting $59.02. The company had a trading volume of 519,215 shares. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33. The firm has a 50-day moving average price of $59.76 and a 200 day moving average price of $62.79. The firm has a market capitalization of $21.98 billion, a P/E ratio of 10.18 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. On average, equities research analysts forecast that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

Discover Financial Services declared that its Board of Directors has authorized a share buyback 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 reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th were given a dividend of $0.35 per share. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 22nd. This represents a $1.40 annualized dividend and a yield of 2.39%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.18%.

Discover Financial Services 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)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.