Sicart Associates LLC Acquires Shares of 6,000 Discover Financial Services (DFS)

Sicart Associates LLC acquired a new stake in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,000 shares of the financial services provider’s stock, valued at approximately $462,000.

A number of other hedge funds have also modified their holdings of DFS. Diamond Hill Capital Management Inc. increased its holdings in Discover Financial Services by 97.6% during the third 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 buying an additional 3,475,126 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Discover Financial Services by 84.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,904,200 shares of the financial services provider’s stock valued at $380,703,000 after acquiring an additional 2,698,700 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Discover Financial Services by 320.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,672,385 shares of the financial services provider’s stock valued at $166,196,000 after acquiring an additional 2,037,515 shares in the last quarter. Capital World Investors boosted its stake in Discover Financial Services by 18.3% in the second 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 in the last quarter. Finally, FMR LLC boosted its stake in Discover Financial Services by 17.4% in the second quarter. FMR LLC now owns 10,374,397 shares of the financial services provider’s stock valued at $645,184,000 after acquiring an additional 1,534,882 shares in the last quarter. 84.78% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on DFS. Barclays set a $95.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 12th. Jefferies Group restated a “buy” rating and issued a $91.00 target price on shares of Discover Financial Services in a research note on Thursday, January 11th. Royal Bank of Canada restated a “buy” rating and issued a $107.00 target price on shares of Discover Financial Services in a research note on Tuesday, January 9th. Wells Fargo & Co restated a “market perform” rating and issued a $83.00 target price (up from $69.00) on shares of Discover Financial Services in a research note on Tuesday, January 9th. Finally, Stephens set a $73.00 target price on shares of Discover Financial Services and gave the company a “sell” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $80.76.

In other news, CFO R. Mark Graf sold 16,503 shares of Discover Financial Services stock in a transaction on Friday, October 27th. The shares were sold at an average price of $66.67, for a total transaction of $1,100,255.01. Following the completion of the sale, the chief financial officer now directly owns 82,402 shares in the company, valued at $5,493,741.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.80, for a total transaction of $2,004,000.00. The disclosure for this sale can be found here. Insiders have sold 179,277 shares of company stock valued at $12,673,925 over the last quarter. Insiders own 0.96% of the company’s stock.

Discover Financial Services (DFS) traded down $1.57 during trading hours on Wednesday, hitting $78.94. 1,985,000 shares of the stock traded hands, compared to its average volume of 2,125,420. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.23. 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 firm has a market capitalization of $28,550.00, a P/E ratio of 13.59, a P/E/G ratio of 1.76 and a beta of 1.52.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. Discover Financial Services had a net margin of 20.04% and a return on equity of 21.01%. research analysts forecast that Discover Financial Services will post 5.93 earnings per share for the current fiscal year.

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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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