Raymond James Trust N.A. raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,518 shares of the financial services provider’s stock after buying an additional 970 shares during the quarter. Raymond James Trust N.A.’s holdings in Discover Financial Services were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Diamond Hill Capital Management Inc. boosted its holdings in shares of Discover Financial Services by 97.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after purchasing an additional 3,475,126 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of Discover Financial Services by 71.9% in 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 acquiring an additional 826,606 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Discover Financial Services by 24.3% in the 3rd quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 3,200 shares during the last quarter. Investec Asset Management LTD lifted its stake in shares of Discover Financial Services by 26.7% in 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 acquiring an additional 50,412 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Discover Financial Services by 50.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 13,460 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 4,539 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.
Discover Financial Services (NYSE DFS) traded up $1.04 during trading hours on Wednesday, reaching $77.54. The company’s stock had a trading volume of 1,064,127 shares, compared to its average volume of 2,296,931. The company has a market capitalization of $27,830.00, a PE ratio of 14.16, a PEG ratio of 1.24 and a beta of 1.54. The company has a current ratio of 1.08, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.93.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.81%. Discover Financial Services’s payout ratio is 25.88%.
In other Discover Financial Services news, EVP Kathryn Mcnamara Corley sold 37,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $80.08, for a total value of $2,962,960.00. Following the completion of the sale, the executive vice president now owns 147,770 shares of the company’s stock, valued at $11,833,421.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. Following the sale, the chief executive officer now directly owns 1,441,912 shares of the company’s stock, valued at approximately $101,150,126.80. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 55,000 shares of company stock valued at $16,300 and have sold 242,673 shares valued at $18,685,542. Company insiders own 0.96% of the company’s stock.
A number of research firms have recently weighed in on DFS. Barclays set a $95.00 target price on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 12th. Morgan Stanley upped their price target on Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Instinet lowered their price target on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Argus raised Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, January 26th. Finally, Jefferies Group reiterated a “buy” rating and set a $91.00 target price on shares of Discover Financial Services in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $85.61.
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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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