UBS Asset Management Americas Inc. Has $96.26 Million Position in Discover Financial Services (DFS)

UBS Asset Management Americas Inc. lowered its stake in Discover Financial Services (NYSE:DFS) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,251,441 shares of the financial services provider’s stock after selling 107,063 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.34% of Discover Financial Services worth $96,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC grew its stake in Discover Financial Services by 8.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 229 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Discover Financial Services by 5.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 64,981 shares of the financial services provider’s stock valued at $4,190,000 after acquiring an additional 3,642 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Discover Financial Services during the 3rd quarter valued at about $7,938,000. Rockefeller Financial Services Inc. grew its stake in Discover Financial Services by 80.8% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 5,280 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 2,359 shares in the last quarter. Finally, APG Asset Management N.V. grew its stake in Discover Financial Services by 33.8% during the 3rd quarter. APG Asset Management N.V. now owns 842,332 shares of the financial services provider’s stock valued at $54,314,000 after acquiring an additional 212,900 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO R. Mark Graf sold 22,444 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $79.84, for a total value of $1,791,928.96. Following the completion of the sale, the chief financial officer now directly owns 82,991 shares in the company, valued at approximately $6,626,001.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.65, for a total value of $2,389,500.00. Following the completion of the sale, the chief executive officer now owns 1,453,166 shares of the company’s stock, valued at $115,744,671.90. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 55,000 shares of company stock valued at $16,300 and sold 242,673 shares valued at $18,685,542. 0.96% of the stock is currently owned by insiders.

Shares of Discover Financial Services (DFS) opened at $78.59 on Thursday. The stock has a market capitalization of $28,936.00, a PE ratio of 14.53, a PEG ratio of 1.30 and a beta of 1.54. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.08. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.93.

The business 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 of this dividend is Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.78%. Discover Financial Services’s dividend payout ratio (DPR) is currently 25.88%.

Several equities analysts have weighed in on the company. Credit Suisse Group lifted their target price on Discover Financial Services from $91.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada lowered their target price on Discover Financial Services to $100.00 and set a “top pick” rating on the stock in a research note on Thursday, January 25th. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, January 2nd. JMP Securities lifted their target price on Discover Financial Services to $91.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Compass Point cut Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $85.61.

TRADEMARK VIOLATION WARNING: “UBS Asset Management Americas Inc. Has $96.26 Million Position in Discover Financial Services (DFS)” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/02/22/ubs-asset-management-americas-inc-has-96-26-million-position-in-discover-financial-services-dfs.html.

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.

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply