World Asset Management Inc Sells 1,669 Shares of Discover Financial Services (NYSE:DFS)

World Asset Management Inc trimmed its position in Discover Financial Services (NYSE:DFS) by 12.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,245 shares of the financial services provider’s stock after selling 1,669 shares during the period. World Asset Management Inc’s holdings in Discover Financial Services were worth $1,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DFS. Capital International Investors increased its stake in shares of Discover Financial Services by 22.7% in the second quarter. Capital International Investors now owns 20,614,044 shares of the financial services provider’s stock worth $2,438,214,000 after buying an additional 3,816,544 shares during the period. Nordea Investment Management AB increased its stake in shares of Discover Financial Services by 103.3% in the third quarter. Nordea Investment Management AB now owns 2,298,380 shares of the financial services provider’s stock worth $291,136,000 after buying an additional 1,167,665 shares during the period. Vanguard Group Inc. increased its stake in shares of Discover Financial Services by 1.8% in the second quarter. Vanguard Group Inc. now owns 36,208,440 shares of the financial services provider’s stock worth $4,283,097,000 after buying an additional 632,214 shares during the period. Amundi purchased a new position in shares of Discover Financial Services in the second quarter worth $67,075,000. Finally, Invesco Ltd. increased its stake in shares of Discover Financial Services by 32.8% in the second quarter. Invesco Ltd. now owns 1,721,103 shares of the financial services provider’s stock worth $203,589,000 after buying an additional 425,159 shares during the period. 84.22% of the stock is currently owned by institutional investors.

DFS traded down $1.67 during midday trading on Friday, hitting $127.73. 7,457 shares of the company traded hands, compared to its average volume of 1,452,203. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $37.44 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70. The company’s 50-day moving average is $116.79 and its 200 day moving average 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 posted its 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 business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Discover Financial Services will post 17.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Wednesday, November 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Tuesday, November 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 11.96%.

In related news, Director Cynthia A. Glassman sold 3,200 shares of the stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $123.93, for a total value of $396,576.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,720,960.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Several brokerages recently commented on DFS. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, October 8th. Stephens boosted their price objective on shares of Discover Financial Services from $118.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, October 22nd. Seaport Res Ptn raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 2nd. Piper Sandler boosted 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 report on Monday, October 25th. Finally, Royal Bank of Canada boosted 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $134.61.

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.

Read More: What is a Candlestick Chart?

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)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.