DF Dent & Co. Inc. Acquires 140,668 Shares of Discover Financial Services (DFS)

DF Dent & Co. Inc. lifted its holdings in shares of Discover Financial Services (NYSE:DFS) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 800,106 shares of the financial services provider’s stock after buying an additional 140,668 shares during the period. DF Dent & Co. Inc. owned 0.21% of Discover Financial Services worth $49,759,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Prudential Financial Inc. grew its position in shares of Discover Financial Services by 6.5% during the 2nd quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock valued at $57,286,000 after buying an additional 56,046 shares during the last quarter. Calamos Advisors LLC boosted its stake in Discover Financial Services by 120.3% during the 2nd quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock valued at $39,453,000 after purchasing an additional 346,406 shares during the period. Annex Advisory Services LLC boosted its stake in Discover Financial Services by 23.9% during the 2nd quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 3,027 shares during the period. Bank of Nova Scotia boosted its stake in Discover Financial Services by 171.5% during the 1st quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock valued at $6,045,000 after purchasing an additional 55,840 shares during the period. Finally, Edge Asset Management Inc. boosted its stake in Discover Financial Services by 2.7% during the 1st quarter. Edge Asset Management Inc. now owns 2,561,054 shares of the financial services provider’s stock valued at $175,151,000 after purchasing an additional 67,475 shares during the period. 85.45% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services (NYSE DFS) traded up 0.023% during mid-day trading on Tuesday, hitting $65.395. 638,589 shares of the company were exchanged. The company has a 50 day moving average of $60.94 and a 200 day moving average of $61.76. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The stock has a market cap of $24.35 billion, a P/E ratio of 11.283 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.05). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.47 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

Discover Financial Services declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.23 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have issued reports on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Morgan Stanley reduced their target price on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, September 8th. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and set a $82.00 target price on shares of Discover Financial Services in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. Discover Financial Services has a consensus rating of “Buy” and an average price target of $73.63.

TRADEMARK VIOLATION NOTICE: “DF Dent & Co. Inc. Acquires 140,668 Shares of Discover Financial Services (DFS)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/10/df-dent-co-inc-acquires-140668-shares-of-discover-financial-services-dfs.html.

In related news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $61.13, for a total transaction of $1,833,900.00. Following the transaction, the chief executive officer now owns 1,559,912 shares of the company’s stock, valued at approximately $95,357,420.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Edwar

Other large investors have also made changes to their positions in the company. Prudential Financial Inc. grew its position in shares of Discover Financial Services by 6.5% during the 2nd quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock valued at $57,286,000 after buying an additional 56,046 shares during the last quarter. Calamos Advisors LLC boosted its stake in Discover Financial Services by 120.3% during the 2nd quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock valued at $39,453,000 after purchasing an additional 346,406 shares during the period. Annex Advisory Services LLC boosted its stake in Discover Financial Services by 23.9% during the 2nd quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 3,027 shares during the period. Bank of Nova Scotia boosted its stake in Discover Financial Services by 171.5% during the 1st quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock valued at $6,045,000 after purchasing an additional 55,840 shares during the period. Finally, Edge Asset Management Inc. boosted its stake in Discover Financial Services by 2.7% during the 1st quarter. Edge Asset Management Inc. now owns 2,561,054 shares of the financial services provider’s stock valued at $175,151,000 after purchasing an additional 67,475 shares during the period. 85.45% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services (NYSE DFS) traded up 0.023% during mid-day trading on Tuesday, hitting $65.395. 638,589 shares of the company were exchanged. The company has a 50 day moving average of $60.94 and a 200 day moving average of $61.76. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The stock has a market cap of $24.35 billion, a P/E ratio of 11.283 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.05). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.47 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

Discover Financial Services declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.23 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have issued reports on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Morgan Stanley reduced their target price on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, September 8th. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and set a $82.00 target price on shares of Discover Financial Services in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. Discover Financial Services has a consensus rating of “Buy” and an average price target of $73.63.

TRADEMARK VIOLATION NOTICE: “DF Dent & Co. Inc. Acquires 140,668 Shares of Discover Financial Services (DFS)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/10/df-dent-co-inc-acquires-140668-shares-of-discover-financial-services-dfs.html.

In related news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $61.13, for a total transaction of $1,833,900.00. Following the transaction, the chief executive officer now owns 1,559,912 shares of the company’s stock, valued at approximately $95,357,420.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,228 shares of Discover Financial Services stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $61.06, for a total transaction of $74,981.68. Following the transaction, the senior vice president now directly owns 13,085 shares in the company, valued at approximately $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock worth $9,694,424 in the last three months. 0.96% of the stock is owned by insiders.

Discover Financial Services Company Profile

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.

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

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