Sovarnum Capital L.P. Takes Position in Discover Financial Services (DFS)

Sovarnum Capital L.P. purchased a new position in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,000 shares of the financial services provider’s stock, valued at approximately $538,000.

A number of other hedge funds have also recently modified their holdings of DFS. Victory Capital Management Inc. grew its stake in shares of Discover Financial Services by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 46,112 shares of the financial services provider’s stock worth $3,547,000 after acquiring an additional 4,096 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Discover Financial Services by 71.9% in the third quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock worth $127,401,000 after acquiring an additional 826,606 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Discover Financial Services by 24.3% in the third quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock worth $1,054,000 after acquiring an additional 3,200 shares during the last quarter. Investec Asset Management LTD grew its stake in shares of Discover Financial Services by 26.7% in the third quarter. Investec Asset Management LTD now owns 239,187 shares of the financial services provider’s stock worth $15,423,000 after acquiring an additional 50,412 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Discover Financial Services by 50.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 13,460 shares of the financial services provider’s stock worth $868,000 after acquiring an additional 4,539 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

In other Discover Financial Services news, SVP Daniel Peter Capozzi sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $79.97, for a total value of $399,850.00. Following the transaction, the senior vice president now owns 23,977 shares of the company’s stock, valued at $1,917,440.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $81.63, for a total value of $198,769.05. Following the completion of the transaction, the senior vice president now directly owns 12,033 shares in the company, valued at approximately $982,253.79. The disclosure for this sale can be found here. In the last three months, insiders acquired 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 corporate insiders.

Discover Financial Services (NYSE:DFS) opened at $78.55 on Friday. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.93. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.08 and a quick ratio of 1.55. The firm has a market capitalization of $27,880.34, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.54.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is 25.88%.

A number of equities research analysts have recently commented on the company. JMP Securities increased their target price on Discover Financial Services to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank began coverage on Discover Financial Services in a report on Tuesday, January 2nd. They set a “buy” rating and a $92.00 price target on the stock. Bank of America raised 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. Finally, BMO Capital Markets lowered their price target on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Discover Financial Services has a consensus rating of “Buy” and a consensus 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.

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

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