Ontario Teachers Pension Plan Board boosted its position in Discover Financial Services (NYSE:DFS) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,401 shares of the financial services provider’s stock after acquiring an additional 1,800 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Discover Financial Services were worth $9,800,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in DFS. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 2,483.3% during the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Discover Financial Services during the third quarter worth $123,000. Americafirst Capital Management LLC bought a new stake in shares of Discover Financial Services during the third quarter worth $140,000. Advisory Services Network LLC grew its stake in shares of Discover Financial Services by 8.5% during the second quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock worth $181,000 after buying an additional 229 shares during the last quarter. Finally, Arbor Investment Advisors LLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth $203,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Edward W. Mcgrogan sold 2,435 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $81.63, for a total transaction of $198,769.05. Following the transaction, the senior vice president now owns 12,033 shares in the company, valued at $982,253.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 751,682 shares in the company, valued at approximately $53,023,648.28. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 55,000 shares of company stock worth $16,300 and sold 242,673 shares worth $18,685,542. 0.96% of the stock is owned by insiders.
A number of analysts have weighed in on DFS shares. ValuEngine cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Barclays set a $95.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, January 12th. Bank of America upgraded shares of 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. Deutsche Bank began coverage on shares of Discover Financial Services in a report on Tuesday, January 2nd. They set a “buy” rating and a $92.00 price target on the stock. Finally, Jefferies Group reiterated a “buy” rating and set a $91.00 price target on shares of Discover Financial Services in a report on Thursday, January 11th. 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 issued a strong buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $85.61.
Discover Financial Services (DFS) opened at $79.63 on Wednesday. The stock has a market cap of $28,899.66, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.30 and a beta of 1.54. The company has a quick ratio of 1.55, a current ratio of 1.08 and a debt-to-equity ratio of 2.52. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $81.93.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be issued a $0.35 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.76%. Discover Financial Services’s payout ratio is 25.88%.
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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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