Heritage Wealth Management LLC Decreases Stock Holdings in Discover Financial Services (NYSE:DFS)

Heritage Wealth Management LLC lowered its position in shares of Discover Financial Services (NYSE:DFS) by 21.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,276 shares of the financial services provider’s stock after selling 350 shares during the quarter. Heritage Wealth Management LLC’s holdings in Discover Financial Services were worth $157,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC grew its stake in shares of Discover Financial Services by 80.2% in the third quarter. Private Advisor Group LLC now owns 80,906 shares of the financial services provider’s stock worth $9,938,000 after acquiring an additional 36,003 shares in the last quarter. SeaTown Holdings Pte. Ltd. lifted its position in Discover Financial Services by 118.8% in the second quarter. SeaTown Holdings Pte. Ltd. now owns 361,000 shares of the financial services provider’s stock valued at $42,703,000 after acquiring an additional 196,000 shares during the last quarter. Palladium Partners LLC lifted its position in Discover Financial Services by 0.5% in the third quarter. Palladium Partners LLC now owns 243,328 shares of the financial services provider’s stock valued at $29,893,000 after acquiring an additional 1,206 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Discover Financial Services by 31.9% in the second quarter. Schonfeld Strategic Advisors LLC now owns 120,418 shares of the financial services provider’s stock valued at $14,244,000 after purchasing an additional 29,108 shares during the period. Finally, Fifth Third Bancorp increased its stake in Discover Financial Services by 7.3% in the third quarter. Fifth Third Bancorp now owns 223,441 shares of the financial services provider’s stock valued at $27,450,000 after purchasing an additional 15,296 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Shares of Discover Financial Services stock opened at $129.40 on Friday. The firm has a market capitalization of $37.92 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.24 and a quick ratio of 1.24. The company’s fifty day moving average price is $116.79 and its two-hundred day moving average price is $121.87. Discover Financial Services has a 52-week low of $81.27 and a 52-week high of $135.69.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.53 by $0.01. Discover Financial Services had a net margin of 39.15% and a return on equity of 45.80%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm posted $2.45 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that Discover Financial Services will post 17.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 9th. Investors of record on Wednesday, November 24th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, November 23rd. This represents a $2.00 annualized dividend and a yield of 1.55%. Discover Financial Services’s dividend payout ratio (DPR) is 11.96%.

DFS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, January 4th. Piper Sandler upped their price objective on shares of Discover Financial Services from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Monday, October 25th. Seaport Res Ptn raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 2nd. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $140.00 to $143.00 and gave the company an “outperform” rating in a research report on Friday, October 22nd. Finally, Seaport Global Securities upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Tuesday, November 2nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $134.61.

In related news, Director Cynthia A. Glassman sold 3,200 shares of the stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $123.93, for a total transaction of $396,576.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carlos Minetti sold 22,000 shares of the stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $123.68, for a total value of $2,720,960.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

About Discover Financial Services

Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.

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

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