Capital Planning Advisors LLC Grows Stake in Discover Financial Services (DFS)

Capital Planning Advisors LLC grew its position in Discover Financial Services (NYSE:DFS) by 37.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,210 shares of the financial services provider’s stock after acquiring an additional 3,028 shares during the quarter. Capital Planning Advisors LLC’s holdings in Discover Financial Services were worth $723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norinchukin Bank The lifted its position in shares of Discover Financial Services by 12.9% in the third quarter. Norinchukin Bank The now owns 45,854 shares of the financial services provider’s stock valued at $2,957,000 after acquiring an additional 5,254 shares in the last quarter. ING Groep NV lifted its position in shares of Discover Financial Services by 65.3% in the third quarter. ING Groep NV now owns 32,179 shares of the financial services provider’s stock valued at $2,075,000 after acquiring an additional 12,711 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Discover Financial Services by 24.3% in the third quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 3,200 shares in the last quarter. Assetmark Inc. lifted its position in shares of Discover Financial Services by 92.4% in the third quarter. Assetmark Inc. now owns 29,987 shares of the financial services provider’s stock valued at $1,934,000 after acquiring an additional 14,402 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Discover Financial Services by 59.2% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,320 shares of the financial services provider’s stock valued at $1,375,000 after acquiring an additional 7,930 shares in the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.

Several research firms recently commented on DFS. BidaskClub cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price target (down previously from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, Morgan Stanley cut their price target on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, September 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $74.45.

Discover Financial Services (NYSE:DFS) traded down $0.14 on Thursday, hitting $65.50. The stock had a trading volume of 2,026,200 shares, compared to its average volume of 2,645,418. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $74.33. The stock has a market capitalization of $23,800.00, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.74 and a beta of 1.51. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.40 annualized dividend and a dividend yield of 2.14%. Discover Financial Services’s dividend payout ratio is currently 24.10%.

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In other news, EVP Carlos Minetti sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.68, for a total transaction of $533,440.00. Following the completion of the transaction, the executive vice president now directly owns 173,149 shares in the company, valued at $11,545,575.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $59.63, for a total value of $238,520.00. Following the transaction, the executive vice president now owns 150,744 shares of the company’s stock, valued at $8,988,864.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,277 shares of company stock valued at $11,020,650. Company insiders own 0.96% of the company’s stock.

About Discover Financial Services

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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