Perpetual Ltd Buys Shares of 30,414 Discover Financial Services (DFS)

Perpetual Ltd bought a new position in Discover Financial Services (NYSE:DFS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 30,414 shares of the financial services provider’s stock, valued at approximately $1,891,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DFS. ZWJ Investment Counsel Inc. bought a new position in shares of Discover Financial Services in the 1st quarter worth $301,000. Rafferty Asset Management LLC increased its holdings in shares of Discover Financial Services by 240.2% in the 1st quarter. Rafferty Asset Management LLC now owns 70,341 shares of the financial services provider’s stock worth $4,811,000 after buying an additional 49,664 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Discover Financial Services by 1.0% in the 1st quarter. United Services Automobile Association now owns 434,757 shares of the financial services provider’s stock worth $29,733,000 after buying an additional 4,387 shares during the last quarter. Jarislowsky Fraser Ltd increased its holdings in shares of Discover Financial Services by 1.1% in the 1st quarter. Jarislowsky Fraser Ltd now owns 31,717 shares of the financial services provider’s stock worth $2,169,000 after buying an additional 330 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Discover Financial Services by 30.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 7,282 shares of the financial services provider’s stock worth $498,000 after buying an additional 1,717 shares during the last quarter. Institutional investors and hedge funds own 85.45% of the company’s stock.

A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Oppenheimer Holdings, Inc. set a $69.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, July 26th. Barclays PLC reissued an “equal weight” rating and issued a $70.00 price target (down previously from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Buckingham Research initiated coverage on shares of Discover Financial Services in a report on Monday, October 2nd. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.58.

In other news, SVP Edward W. Mcgrogan sold 1,228 shares of Discover Financial Services stock in a transaction on Monday, July 31st. The stock was sold at an average price of $61.06, for a total transaction of $74,981.68. Following the transaction, the senior vice president now owns 13,085 shares in the company, valued at approximately $798,970.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,002 shares of company stock worth $9,694,424. Insiders own 0.96% of the company’s stock.

Discover Financial Services (NYSE:DFS) traded up 1.05% on Wednesday, reaching $65.34. 480,120 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $61.57 and a 200 day moving average price of $61.67. The firm has a market cap of $24.33 billion, a PE ratio of 11.27 and a beta of 1.47. Discover Financial Services has a one year low of $54.45 and a one year high of $74.33.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.05). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that Discover Financial Services will post $5.92 earnings per share for the current year.

Discover Financial Services declared that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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

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