Delpha Capital Management LLC Takes Position in Discover Financial Services (DFS)
Delpha Capital Management LLC acquired a new position in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,163 shares of the financial services provider’s stock, valued at approximately $243,000.
A number of other hedge funds have also recently modified their holdings of the stock. Grove Bank & Trust grew its position in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter valued at about $123,000. Americafirst Capital Management LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter valued at about $140,000. Arbor Investment Advisors LLC bought a new stake in shares of Discover Financial Services in the 4th quarter valued at about $203,000. Finally, Equity Investment Corp bought a new stake in shares of Discover Financial Services in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 84.08% of the company’s stock.
In related news, CFO R. Mark Graf sold 22,444 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $79.84, for a total transaction of $1,791,928.96. Following the transaction, the chief financial officer now directly owns 82,991 shares of the company’s stock, valued at approximately $6,626,001.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Daniel Peter Capozzi sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $79.97, for a total value of $399,850.00. Following the transaction, the senior vice president now directly owns 23,977 shares in the company, valued at $1,917,440.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 38,000 shares of company stock worth $11,360 and have sold 182,415 shares worth $14,449,342. 0.96% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 25.88%.
DFS has been the topic of a number of analyst reports. ValuEngine lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Barclays set a $95.00 price target on Discover Financial Services and gave the company a “buy” rating in a research report on Friday, January 12th. Bank of America upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Monday, December 18th. Deutsche Bank initiated coverage on Discover Financial Services in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price target on the stock. Finally, Jefferies Group reiterated a “buy” rating and issued a $91.00 price target on shares of Discover Financial Services in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $85.61.
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About Discover Financial Services
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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