Philadelphia Financial Management of San Francisco LLC acquired a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 126,860 shares of the financial services provider’s stock, valued at approximately $9,758,000.
Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Discover Financial Services by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 46,112 shares of the financial services provider’s stock worth $3,547,000 after acquiring an additional 4,096 shares in the last quarter. TD Asset Management Inc. increased its position in Discover Financial Services by 71.9% during the 3rd quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock valued at $127,401,000 after buying an additional 826,606 shares in the last quarter. Wasatch Advisors Inc. increased its position in Discover Financial Services by 24.3% during the 3rd quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock valued at $1,054,000 after buying an additional 3,200 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in Discover Financial Services by 59.5% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 87,684 shares of the financial services provider’s stock valued at $6,744,000 after buying an additional 32,708 shares in the last quarter. Finally, Investec Asset Management LTD increased its position in Discover Financial Services by 26.7% during the 3rd quarter. Investec Asset Management LTD now owns 239,187 shares of the financial services provider’s stock valued at $15,423,000 after buying an additional 50,412 shares in the last quarter. Institutional investors own 86.35% of the company’s stock.
Shares of DFS stock traded up $0.31 during mid-day trading on Wednesday, hitting $75.67. The stock had a trading volume of 586,851 shares, compared to its average volume of 2,247,263. The firm has a market capitalization of $26,975.71, a P/E ratio of 13.93, a PEG ratio of 1.12 and a beta of 1.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.51 and a current ratio of 1.51. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.93.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $1.85 billion. sell-side analysts forecast that Discover Financial Services will post 7.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Wednesday, February 21st. Discover Financial Services’s payout ratio is 25.88%.
In other Discover Financial Services news, SVP Daniel Peter Capozzi sold 5,000 shares of the company’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 directly owns 23,977 shares of the company’s stock, valued at $1,917,440.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $81.63, for a total transaction of $198,769.05. Following the completion of the sale, the senior vice president now directly owns 12,033 shares in the company, valued at $982,253.79. The disclosure for this sale can be found here. Over the last three months, insiders purchased 29,000 shares of company stock worth $8,670 and sold 242,674 shares worth $19,140,541. 0.81% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on DFS. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Barclays set a $95.00 target price on Discover Financial Services and gave the company a “buy” rating in a research report on Friday, January 12th. Bank of America raised Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, December 18th. Jefferies Group reaffirmed a “buy” rating and issued a $91.00 target price on shares of Discover Financial Services in a report on Thursday, January 11th. Finally, Deutsche Bank initiated coverage on Discover Financial Services in a report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $85.61.
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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.
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