Raymond James & Associates Has $33.36 Million Holdings in Discover Financial Services (NYSE:DFS)

Raymond James & Associates lifted its holdings in Discover Financial Services (NYSE:DFS) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 433,751 shares of the financial services provider’s stock after buying an additional 16,763 shares during the period. Raymond James & Associates owned approximately 0.12% of Discover Financial Services worth $33,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DnB Asset Management AS boosted its stake in shares of Discover Financial Services by 1.7% in the 4th quarter. DnB Asset Management AS now owns 40,715 shares of the financial services provider’s stock worth $3,132,000 after buying an additional 700 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Discover Financial Services by 2.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 26,329 shares of the financial services provider’s stock worth $1,697,000 after buying an additional 738 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in shares of Discover Financial Services by 1.8% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 44,307 shares of the financial services provider’s stock worth $2,857,000 after buying an additional 804 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Discover Financial Services by 9.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 9,425 shares of the financial services provider’s stock worth $725,000 after buying an additional 813 shares during the last quarter. Finally, Intrust Bank NA boosted its stake in shares of Discover Financial Services by 4.5% in the 4th quarter. Intrust Bank NA now owns 20,366 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

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DFS has been the topic of several research analyst reports. Citigroup initiated coverage on Discover Financial Services in a research note on Thursday. They issued a “neutral” rating and a $78.00 price objective on the stock. Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Barclays dropped their price objective on Discover Financial Services from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 29th. Finally, Wells Fargo dropped their price objective on Discover Financial Services from $84.00 to $76.00 and set a “market perform” rating on the stock in a research note on Thursday, March 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $84.88.

In other news, EVP Diane E. Offereins sold 15,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $69.74, for a total value of $1,046,100.00. Following the transaction, the executive vice president now owns 115,701 shares of the company’s stock, valued at $8,068,987.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $81.63, for a total transaction 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 ninety days, insiders bought 29,000 shares of company stock worth $8,670 and sold 253,675 shares worth $19,571,644. Corporate insiders own 0.81% of the company’s stock.

DFS stock traded down $1.79 during midday trading on Friday, reaching $70.34. 1,509,695 shares of the company’s stock traded hands, compared to its average volume of 2,283,848. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.51 and a quick ratio of 1.51. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.93. The stock has a market capitalization of $25,588.61, a price-to-earnings ratio of 11.76, a PEG ratio of 1.06 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. equities research analysts anticipate that Discover Financial Services will post 7.65 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd were issued a $0.35 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Discover Financial Services’s payout ratio is currently 23.41%.

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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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