QS Investors LLC cut its stake in shares of Discover Financial Services (NYSE:DFS) by 5.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,799 shares of the financial services provider’s stock after selling 8,906 shares during the period. QS Investors LLC’s holdings in Discover Financial Services were worth $12,522,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jafra Capital Management LP acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $2,333,000. Brandywine Global Investment Management LLC lifted its stake in Discover Financial Services by 0.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 589,316 shares of the financial services provider’s stock valued at $45,331,000 after acquiring an additional 5,331 shares during the last quarter. Advisor Group Inc. lifted its stake in Discover Financial Services by 55.2% in the fourth quarter. Advisor Group Inc. now owns 33,450 shares of the financial services provider’s stock valued at $2,573,000 after acquiring an additional 11,899 shares during the last quarter. Wafra Investment Advisory Group Inc. NY acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $14,957,000. Finally, JOYN Advisors Inc. acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $917,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on DFS shares. Instinet reduced their target price on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Barclays set a $95.00 price objective on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, January 12th. Jefferies Group restated a “buy” rating and issued a $91.00 price objective on shares of Discover Financial Services in a research note on Thursday, January 11th. Deutsche Bank began coverage on shares of Discover Financial Services in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Discover Financial Services currently has a consensus rating of “Buy” and a consensus price target of $85.61.
Discover Financial Services (NYSE DFS) traded up $1.17 during trading hours on Friday, reaching $76.54. 3,213,814 shares of the company traded hands, compared to its average volume of 2,065,772. The firm has a market cap of $27,153.10, a PE ratio of 14.15, a P/E/G ratio of 1.25 and a beta of 1.49. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $81.93. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.55.
Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 24th. The financial services provider reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. research analysts forecast that Discover Financial Services will post 7.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.83%. The ex-dividend date was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 25.88%.
In other Discover Financial Services news, SVP Daniel Peter Capozzi sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $79.97, for a total value of $399,850.00. Following the sale, the senior vice president now owns 23,977 shares of the company’s stock, valued at approximately $1,917,440.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $76.78, for a total transaction of $1,171,509.24. Following the completion of the sale, the chief operating officer now directly owns 723,666 shares in the company, valued at approximately $55,563,075.48. The disclosure for this sale can be found here. In the last three months, insiders acquired 29,000 shares of company stock worth $8,670 and sold 242,674 shares worth $19,140,541. Insiders own 0.96% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “QS Investors LLC Trims Position in Discover Financial Services (DFS)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://ledgergazette.com/2018/03/18/discover-financial-services-dfs-holdings-lowered-by-qs-investors-llc.html.
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.
Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.