Discover Financial Services (DFS) Shares Bought by Riverhead Capital Management LLC

Riverhead Capital Management LLC raised its stake in Discover Financial Services (NYSE:DFS) by 36.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 110,155 shares of the financial services provider’s stock after purchasing an additional 29,160 shares during the period. Riverhead Capital Management LLC’s holdings in Discover Financial Services were worth $8,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Discover Financial Services by 7.5% in the 2nd quarter. Bank of America Corp DE now owns 1,844,422 shares of the financial services provider’s stock valued at $129,865,000 after buying an additional 129,286 shares during the period. Calamos Advisors LLC boosted its holdings in shares of Discover Financial Services by 1.8% in the 3rd quarter. Calamos Advisors LLC now owns 240,413 shares of the financial services provider’s stock valued at $18,380,000 after buying an additional 4,285 shares during the period. Atria Investments LLC boosted its holdings in shares of Discover Financial Services by 19.7% in the 3rd quarter. Atria Investments LLC now owns 12,551 shares of the financial services provider’s stock valued at $960,000 after buying an additional 2,069 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in shares of Discover Financial Services by 61.3% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 247,282 shares of the financial services provider’s stock valued at $17,411,000 after buying an additional 93,942 shares during the period. Finally, Round Table Services LLC acquired a new position in shares of Discover Financial Services in the 3rd quarter valued at about $262,000. 86.26% of the stock is owned by institutional investors.

In other Discover Financial Services news, SVP Edward W. Mcgrogan sold 850 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $70.00, for a total transaction of $59,500.00. Following the sale, the senior vice president now directly owns 12,075 shares in the company, valued at approximately $845,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $72.05, for a total transaction of $2,161,500.00. Following the sale, the insider now owns 1,120,798 shares in the company, valued at $80,753,495.90. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $7,590,463 over the last 90 days. 0.81% of the stock is owned by insiders.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Citigroup reduced their target price 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, November 1st. Wells Fargo & Co reduced their target price on shares of Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. Finally, JPMorgan Chase & Co. raised shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $86.40.

Discover Financial Services stock opened at $66.38 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.58. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.73 and a beta of 1.51. Discover Financial Services has a 52-week low of $66.32 and a 52-week high of $81.93.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $2.05 EPS for the quarter, hitting analysts’ consensus estimates of $2.05. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.69 billion. Equities analysts forecast that Discover Financial Services will post 7.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.41%. Discover Financial Services’s dividend payout ratio (DPR) is 26.76%.

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Discover Financial Services Company Profile

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

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