Clearbridge Investments LLC decreased its position in Discover Financial Services (NYSE:DFS) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815,479 shares of the financial services provider’s stock after selling 14,419 shares during the quarter. Clearbridge Investments LLC’s holdings in Discover Financial Services were worth $62,727,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management boosted its position in Discover Financial Services by 3.5% during the 4th quarter. LSV Asset Management now owns 6,898,150 shares of the financial services provider’s stock valued at $530,605,000 after purchasing an additional 234,467 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Discover Financial Services by 84.2% during the 3rd 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 purchasing an additional 2,698,700 shares during the period. Bessemer Group Inc. boosted its position in Discover Financial Services by 4.3% during the 4th quarter. Bessemer Group Inc. now owns 3,836,438 shares of the financial services provider’s stock valued at $295,099,000 after purchasing an additional 159,496 shares during the period. Epoch Investment Partners Inc. boosted its position in Discover Financial Services by 16.8% during the 3rd quarter. Epoch Investment Partners Inc. now owns 3,091,274 shares of the financial services provider’s stock valued at $199,326,000 after purchasing an additional 444,325 shares during the period. Finally, Eaton Vance Management boosted its position in Discover Financial Services by 18.6% during the 4th quarter. Eaton Vance Management now owns 2,782,209 shares of the financial services provider’s stock valued at $214,007,000 after purchasing an additional 436,199 shares during the period. Institutional investors own 86.88% of the company’s stock.
A number of research analysts recently issued reports on DFS shares. ValuEngine upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Argus raised Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Friday, January 26th. Instinet cut their target price on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Morgan Stanley lifted their target price on Discover Financial Services from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Barclays raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $73.00 to $93.00 in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Discover Financial Services has a consensus rating of “Buy” and a consensus price target of $85.61.
Shares of Discover Financial Services (NYSE DFS) opened at $77.33 on Wednesday. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $81.93. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $27,724.25, a price-to-earnings ratio of 14.29, a PEG ratio of 1.28 and a beta of 1.49.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.02. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $1.85 billion. research analysts forecast that Discover Financial Services will post 7.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is presently 25.88%.
In other news, COO Roger C. Hochschild sold 15,259 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $76.83, for a total transaction of $1,172,348.97. Following the sale, the chief operating officer now directly owns 734,878 shares of the company’s stock, valued at $56,460,676.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn Mcnamara Corley sold 37,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $80.08, for a total value of $2,962,960.00. Following the sale, the executive vice president now directly owns 147,770 shares in the company, valued at $11,833,421.60. The disclosure for this sale can be found here. In the last three months, insiders bought 39,000 shares of company stock worth $11,670 and sold 242,674 shares worth $19,140,541. 0.96% of the stock is currently owned by insiders.
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Discover Financial Services Company 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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