Smith Graham & Co. Investment Advisors LP Has $8.84 Million Holdings in Discover Financial Services (NYSE:DFS)

Smith Graham & Co. Investment Advisors LP grew its stake in Discover Financial Services (NYSE:DFS) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,950 shares of the financial services provider’s stock after acquiring an additional 20,230 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Discover Financial Services were worth $8,842,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of DFS. Diamond Hill Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 3,475,126 shares in the last quarter. 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, Renaissance Technologies LLC boosted its stake in Discover Financial Services by 233.7% in the second quarter. Renaissance Technologies LLC now owns 1,939,400 shares of the financial services provider’s stock valued at $120,611,000 after acquiring an additional 1,358,300 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

In related news, COO Roger C. Hochschild sold 15,258 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $70.54, for a total transaction of $1,076,299.32. Following the sale, the chief operating officer now directly owns 751,682 shares of the company’s stock, valued at approximately $53,023,648.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Lenny sold 4,520 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $79.89, for a total transaction of $361,102.80. Following the transaction, the director now owns 21,812 shares of the company’s stock, valued at approximately $1,742,560.68. The disclosure for this sale can be found here. Over the last three months, insiders bought 55,000 shares of company stock worth $16,300 and sold 242,673 shares worth $18,685,542. 0.96% of the stock is currently owned by insiders.

Shares of Discover Financial Services (DFS) traded up $1.11 during mid-day trading on Wednesday, reaching $77.61. 1,831,570 shares of the company’s stock were exchanged, compared to its average volume of 2,330,806. The stock has a market capitalization of $27,830.00, a P/E ratio of 14.35, a PEG ratio of 1.24 and a beta of 1.54. Discover Financial Services has a one year low of $57.50 and a one year high of $81.93. The company has a quick ratio of 1.55, a current ratio of 1.08 and a debt-to-equity ratio of 2.52.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is 25.88%.

Several equities research analysts have weighed in on the stock. JMP Securities raised their target price on shares of Discover Financial Services to $91.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Deutsche Bank initiated coverage on shares of Discover Financial Services in a report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price target for the company. Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a report on Monday, December 18th. Finally, BMO Capital Markets reduced their target price on shares of Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $85.61.

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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.

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

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