Discover Financial Services (NYSE:DFS) EVP Carlos Minetti sold 3,750 shares of Discover Financial Services stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $69.79, for a total transaction of $261,712.50. Following the sale, the executive vice president now owns 126,352 shares in the company, valued at approximately $8,818,106.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Carlos Minetti also recently made the following trade(s):
- On Monday, October 1st, Carlos Minetti sold 3,750 shares of Discover Financial Services stock. The shares were sold at an average price of $77.26, for a total transaction of $289,725.00.
- On Tuesday, September 4th, Carlos Minetti sold 3,750 shares of Discover Financial Services stock. The shares were sold at an average price of $78.21, for a total transaction of $293,287.50.
Discover Financial Services stock opened at $68.74 on Monday. The firm has a market capitalization of $23.09 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.70 and a beta of 1.50. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.48 and a quick ratio of 1.48. Discover Financial Services has a 12 month low of $63.31 and a 12 month high of $81.93.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 EPS for the quarter, hitting analysts’ consensus estimates of $2.05. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.69 billion. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. On average, analysts anticipate that Discover Financial Services will post 7.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, November 20th. Discover Financial Services’s dividend payout ratio is presently 26.76%.
Discover Financial Services declared that its board has approved a share repurchase program on Thursday, July 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently issued reports on DFS shares. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $78.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Citigroup dropped their price target on shares of Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday. ValuEngine lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Bank of America lifted their price target on shares of Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $86.80.
A number of institutional investors have recently added to or reduced their stakes in DFS. American Century Companies Inc. boosted its holdings in Discover Financial Services by 474.9% in the second quarter. American Century Companies Inc. now owns 1,183,341 shares of the financial services provider’s stock worth $83,319,000 after purchasing an additional 977,501 shares during the period. Millennium Management LLC boosted its holdings in Discover Financial Services by 87.1% in the second quarter. Millennium Management LLC now owns 1,263,969 shares of the financial services provider’s stock worth $88,996,000 after purchasing an additional 588,371 shares during the period. Morgan Stanley boosted its holdings in Discover Financial Services by 11.0% in the second quarter. Morgan Stanley now owns 4,863,732 shares of the financial services provider’s stock worth $342,452,000 after purchasing an additional 482,980 shares during the period. Worldquant Millennium Quantitative Strategies LLC acquired a new position in Discover Financial Services in the second quarter worth $25,690,000. Finally, First Trust Advisors LP boosted its holdings in Discover Financial Services by 100.7% in the third quarter. First Trust Advisors LP now owns 675,232 shares of the financial services provider’s stock worth $51,621,000 after purchasing an additional 338,811 shares during the period. 85.66% of the stock is owned by hedge funds and other institutional investors.
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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