Discover Financial Services (DFS) Shares Sold by Lingohr & Partner Asset Management GmbH
Lingohr & Partner Asset Management GmbH lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the financial services provider’s stock after selling 100 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in Discover Financial Services were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. V Wealth Management LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth about $101,000. FNY Managed Accounts LLC purchased a new stake in Discover Financial Services during the 1st quarter valued at about $124,000. Orrstown Financial Services Inc. grew its stake in Discover Financial Services by 16.7% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 286 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Discover Financial Services by 2.3% during the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 48 shares in the last quarter. Finally, Financial Architects Inc grew its stake in Discover Financial Services by 65.1% during the 2nd quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.
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Shares of Discover Financial Services (NYSE DFS) traded up 1.33% during midday trading on Friday, hitting $59.43. 4,212,083 shares of the stock were exchanged. The firm has a 50 day moving average of $59.74 and a 200 day moving average of $62.70. The firm has a market cap of $22.13 billion, a P/E ratio of 10.25 and a beta of 1.45. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33.
Discover Financial Services (NYSE:DFS) last released 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). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Discover Financial Services’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts forecast that Discover Financial Services will post $5.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.35 per share. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, August 22nd. Discover Financial Services’s payout ratio is currently 24.18%.
Discover Financial Services declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.23 billion in 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 typically a sign that the company’s management believes its shares are undervalued.
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 completion of the sale, the chief operating officer now directly owns 830,257 shares in the company, valued at $51,874,457.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was 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. Over the last quarter, insiders have sold 157,002 shares of company stock valued at $9,580,337. 0.96% of the stock is owned by insiders.
Several analysts recently issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $82.00) on shares of Discover Financial Services in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Barclays PLC reaffirmed an “equal weight” rating and set a $70.00 price objective (down previously from $79.00) on shares of Discover Financial Services in a research note on Thursday, July 13th. Finally, Morgan Stanley dropped their price objective on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $73.95.
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.
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