Rothschild Asset Management Inc. reduced its holdings in Discover Financial Services (NYSE:DFS) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 862,971 shares of the financial services provider’s stock after selling 47,683 shares during the quarter. Discover Financial Services makes up about 0.7% of Rothschild Asset Management Inc.’s holdings, making the stock its 22nd largest holding. Rothschild Asset Management Inc.’s holdings in Discover Financial Services were worth $62,074,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Rehmann Capital Advisory Group boosted its stake in shares of Discover Financial Services by 9.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,203 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 738 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Discover Financial Services by 14.4% in the first quarter. Wedbush Securities Inc. now owns 6,104 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 768 shares during the last quarter. Palladium Partners LLC lifted its position in Discover Financial Services by 0.4% during the first quarter. Palladium Partners LLC now owns 214,216 shares of the financial services provider’s stock worth $15,408,000 after buying an additional 800 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in Discover Financial Services by 9.4% during the fourth 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 in the last quarter. Finally, Intrust Bank NA lifted its position in Discover Financial Services by 4.2% during the first quarter. Intrust Bank NA now owns 21,219 shares of the financial services provider’s stock worth $1,526,000 after buying an additional 853 shares in the last quarter. 87.57% of the stock is currently owned by institutional investors.
NYSE:DFS opened at $76.31 on Wednesday. Discover Financial Services has a 52 week low of $75.34 and a 52 week high of $76.96. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.93 and a beta of 1.47.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 26th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.05. Discover Financial Services had a return on equity of 22.79% and a net margin of 18.43%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. research analysts predict that Discover Financial Services will post 7.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 24th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.83%. Discover Financial Services’s dividend payout ratio is currently 23.41%.
A number of equities analysts recently commented on DFS shares. Instinet reduced their price objective on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Argus upgraded Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Friday, January 26th. Barclays reduced their price objective on Discover Financial Services from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 29th. Oppenheimer set a $82.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research report on Thursday, April 12th. Finally, Stephens upgraded Discover Financial Services from an “underweight” rating to an “equal” rating and set a $73.00 price objective on the stock in a research report on Monday, April 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.43.
In related news, Director Michael H. Moskow sold 2,324 shares of the business’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $74.02, for a total value of $172,022.48. Following the sale, the director now owns 50,027 shares in the company, valued at approximately $3,702,998.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $78.66, for a total value of $2,359,800.00. Following the completion of the sale, the chief executive officer now owns 1,390,449 shares in the company, valued at approximately $109,372,718.34. The disclosure for this sale can be found here. Insiders sold 156,592 shares of company stock worth $11,467,061 in the last 90 days. Company insiders own 0.81% of the company’s stock.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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