Engineers Gate Manager LP Buys 8,513 Shares of Discover Financial Services (DFS)

Engineers Gate Manager LP lifted its holdings in Discover Financial Services (NYSE:DFS) by 37.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,954 shares of the financial services provider’s stock after acquiring an additional 8,513 shares during the period. Engineers Gate Manager LP’s holdings in Discover Financial Services were worth $1,996,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. boosted its position in Discover Financial Services by 97.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock valued at $453,619,000 after acquiring an additional 3,475,126 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Discover Financial Services during the 2nd quarter valued at about $199,350,000. Principal Financial Group Inc. raised its stake in shares of Discover Financial Services by 492.6% during the 2nd quarter. Principal Financial Group Inc. now owns 3,504,010 shares of the financial services provider’s stock valued at $217,914,000 after buying an additional 2,912,742 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Discover Financial Services by 320.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,672,385 shares of the financial services provider’s stock valued at $166,196,000 after buying an additional 2,037,515 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Discover Financial Services by 18.3% during the 2nd quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock valued at $657,867,000 after acquiring an additional 1,638,334 shares during the period. Institutional investors own 84.99% of the company’s stock.

In other Discover Financial Services news, EVP Carlos Minetti sold 8,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $64.51, for a total value of $516,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the transaction, the executive vice president now directly owns 160,747 shares of the company’s stock, valued at $11,310,158.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,277 shares of company stock valued at $12,335,343. 0.96% of the stock is currently owned by corporate insiders.

Several equities research analysts recently issued reports on the company. ValuEngine upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Buckingham Research initiated coverage on Discover Financial Services in a research report on Monday, October 2nd. They issued a “buy” rating and a $74.00 target price on the stock. Barclays set a $73.00 target price on Discover Financial Services and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Compass Point lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $75.11.

Shares of Discover Financial Services (NYSE:DFS) opened at $73.80 on Friday. The company has a market cap of $26,690.30, a PE ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.53. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $74.41. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were issued a $0.35 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

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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.

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

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