Girard Partners LTD. reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 38.0% during the third quarter, HoldingsChannel reports. The firm owned 2,994 shares of the financial services provider’s stock after selling 1,833 shares during the period. Girard Partners LTD.’s holdings in Discover Financial Services were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Adirondack Trust Co. lifted its holdings in Discover Financial Services by 204.5% in the third quarter. Adirondack Trust Co. now owns 1,340 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 900 shares during the period. Sandy Spring Bank lifted its holdings in Discover Financial Services by 181.5% in the second quarter. Sandy Spring Bank now owns 1,689 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,089 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Discover Financial Services by 8,341.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 2,002 shares during the period. Truvestments Capital LLC bought a new position in Discover Financial Services in the third quarter valued at about $163,000. Finally, Legacy Advisors LLC lifted its holdings in Discover Financial Services by 2,329.9% in the third quarter. Legacy Advisors LLC now owns 2,357 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 2,260 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Cynthia A. Glassman sold 2,000 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $69.50, for a total transaction of $139,000.00. Following the completion of the sale, the director now owns 54,032 shares in the company, valued at $3,755,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $78.21, for a total value of $293,287.50. Following the transaction, the executive vice president now directly owns 133,852 shares of the company’s stock, valued at $10,468,564.92. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock valued at $7,795,625 in the last quarter. 0.81% of the stock is currently owned by company insiders.

A number of research firms have weighed in on DFS. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday. ValuEngine cut Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Citigroup reduced their price target on Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Wells Fargo & Co reduced their price target on Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. Finally, JPMorgan Chase & Co. upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.40.

NYSE:DFS opened at $68.24 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.48 and a quick ratio of 1.48. Discover Financial Services has a 12-month low of $65.00 and a 12-month high of $81.93. The stock has a market cap of $23.51 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.72 and a beta of 1.50.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, October 25th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.05. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.69 billion. As a group, research analysts anticipate that Discover Financial Services will post 7.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Wednesday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Tuesday, November 20th. Discover Financial Services’s dividend payout ratio is currently 26.76%.

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About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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