Discover Financial Services (NYSE:DFS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,289,134 shares of the financial services provider’s stock after selling 145,661 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Discover Financial Services were worth $158,370,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Discover Financial Services by 80.2% during the third quarter. Private Advisor Group LLC now owns 80,906 shares of the financial services provider’s stock valued at $9,938,000 after purchasing an additional 36,003 shares during the last quarter. SeaTown Holdings Pte. Ltd. raised its holdings in shares of Discover Financial Services by 118.8% during 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 period. Palladium Partners LLC raised its holdings in shares of Discover Financial Services by 0.5% during 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 period. Schonfeld Strategic Advisors LLC raised its holdings in shares of Discover Financial Services by 31.9% during 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 acquiring an additional 29,108 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Discover Financial Services by 7.3% during the third quarter. Fifth Third Bancorp now owns 223,441 shares of the financial services provider’s stock valued at $27,450,000 after acquiring an additional 15,296 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

Shares of DFS opened at $127.54 on Friday. The company’s fifty day moving average is $117.01 and its 200-day moving average is $121.93. Discover Financial Services has a 12 month low of $81.27 and a 12 month high of $135.69. The firm has a market cap of $37.38 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.52.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $3.54 EPS for the quarter, topping 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 company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $2.45 EPS. Discover Financial Services’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Discover Financial Services will post 17.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Investors of record on Wednesday, November 24th were issued a dividend of $0.50 per share. 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 is currently 11.96%.

In related news, Director Cynthia A. Glassman sold 3,200 shares of the company’s stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $123.93, for a total transaction of $396,576.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Minetti sold 22,000 shares of the company’s stock in a transaction 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 currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on DFS shares. 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 report on Tuesday, January 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Discover Financial Services from $134.00 to $140.00 in a report on Tuesday. Seaport Res Ptn upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a report on Tuesday, November 2nd. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, October 8th. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.

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

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