M&R Capital Management Inc. raised its stake in Discover Financial Services (NYSE:DFS) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,595 shares of the financial services provider’s stock after buying an additional 70 shares during the quarter. M&R Capital Management Inc.’s holdings in Discover Financial Services were worth $393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Wealth Management LLC acquired a new position in Discover Financial Services in the second quarter valued at about $101,000. FNY Managed Accounts LLC acquired a new position in Discover Financial Services in the first quarter valued at about $124,000. Orrstown Financial Services Inc. lifted its position in Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after buying an additional 286 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in Discover Financial Services in the second quarter valued at about $168,000. 85.45% of the stock is currently owned by institutional investors.

Shares of Discover Financial Services (NYSE DFS) traded down 0.02% during trading on Tuesday, reaching $65.37. 549,469 shares of the company’s stock traded hands. The company has a 50 day moving average price of $60.94 and a 200 day moving average price of $61.76. The stock has a market capitalization of $24.34 billion, a PE ratio of 11.28 and a beta of 1.47. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts forecast that Discover Financial Services will post $5.92 EPS for the current fiscal year.

Discover Financial Services declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of research analysts have commented on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Discover Financial Services in a research report on Friday, June 16th. Instinet reissued a “buy” rating and set a $81.00 price target (down previously from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and set a $75.00 price target (down previously from $81.00) on shares of Discover Financial Services in a research report on Thursday, July 6th. Finally, BidaskClub cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $73.63.

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In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $61.04, for a total value of $931,348.32. Following the transaction, the chief operating officer now directly owns 814,999 shares of the company’s stock, valued at approximately $49,747,538.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,529,912 shares in the company, valued at $90,417,799.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,002 shares of company stock worth $9,694,424. 0.96% of the stock is currently owned by corporate insiders.

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)

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