AMP Capital Investors Ltd cut its stake in Discover Financial Services (NYSE:DFS) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 361,227 shares of the financial services provider’s stock after selling 15,565 shares during the period. AMP Capital Investors Ltd owned 0.10% of Discover Financial Services worth $23,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. 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 valued at $57,286,000 after purchasing an additional 56,046 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of Discover Financial Services by 120.3% during the second quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock valued at $39,453,000 after purchasing an additional 346,406 shares during the last quarter. Annex Advisory Services LLC lifted its holdings in shares of Discover Financial Services by 23.9% during the second quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 3,027 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Discover Financial Services by 97.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock valued at $453,619,000 after purchasing an additional 3,475,126 shares during the last quarter. Finally, NorthCoast Asset Management LLC purchased a new position in shares of Discover Financial Services during the second quarter valued at approximately $1,535,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) opened at $73.45 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.55 and a quick ratio of 1.55. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $74.41. The company has a market cap of $26,504.98, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.92 and a beta of 1.53.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

In other news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.54, for a total transaction of $1,076,299.32. Following the transaction, the chief operating officer now owns 751,682 shares in the company, valued at approximately $53,023,648.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction on Friday, December 1st. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. Following the transaction, the chief executive officer now owns 1,441,912 shares in the company, valued at approximately $101,150,126.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,277 shares of company stock valued at $12,335,343. 0.96% of the stock is currently owned by insiders.

Several research firms have recently issued reports on DFS. ValuEngine lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Morgan Stanley lowered their target price on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, September 8th. Compass Point lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. BMO Capital Markets reduced their price target on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research report on Wednesday, October 25th. Finally, Barclays set a $73.00 price target on shares of Discover Financial Services and gave the company a “hold” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $75.11.

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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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