Ajo LP acquired a new position in shares of Discover Financial Services (NYSE:DFS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,768 shares of the financial services provider’s stock, valued at approximately $1,381,000.

Other hedge funds have also added to or reduced their stakes in the company. Hancock Holding Co. boosted its stake in Discover Financial Services by 5,411.5% in the second quarter. Hancock Holding Co. now owns 241,681 shares of the financial services provider’s stock valued at $12,951,000 after buying an additional 237,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Discover Financial Services by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,539,396 shares of the financial services provider’s stock valued at $82,488,000 after buying an additional 58,506 shares during the last quarter. BTIM Corp. boosted its stake in Discover Financial Services by 7.4% in the second quarter. BTIM Corp. now owns 386,617 shares of the financial services provider’s stock valued at $20,719,000 after buying an additional 26,485 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Discover Financial Services by 20.6% in the second quarter. Teacher Retirement System of Texas now owns 37,317 shares of the financial services provider’s stock valued at $2,000,000 after buying an additional 6,368 shares during the last quarter. Finally, Edge Asset Management Inc. boosted its stake in Discover Financial Services by 22.7% in the second quarter. Edge Asset Management Inc. now owns 2,709,839 shares of the financial services provider’s stock valued at $145,220,000 after buying an additional 501,184 shares during the last quarter. 85.99% of the stock is owned by institutional investors.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.17% during mid-day trading on Tuesday, reaching $57.15. The company had a trading volume of 826,751 shares. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $60.29. The company has a market capitalization of $23.07 billion, a P/E ratio of 10.74 and a beta of 1.20. The firm has a 50-day moving average of $58.16 and a 200-day moving average of $54.88.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a net margin of 22.41% and a return on equity of 21.15%. On average, equities analysts anticipate that Discover Financial Services will post $5.72 earnings per share for the current fiscal year.

DFS has been the subject of several research reports. Nomura reissued a “buy” rating and set a $61.00 price target on shares of Discover Financial Services in a report on Friday, May 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a research note on Thursday, June 9th. Evercore ISI restated a “buy” rating and set a $59.00 price objective on shares of Discover Financial Services in a research note on Wednesday, June 15th. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a research note on Wednesday, June 15th. Finally, JMP Securities restated a “buy” rating and set a $63.00 price objective on shares of Discover Financial Services in a research note on Thursday, June 23rd. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Discover Financial Services has an average rating of “Buy” and a consensus price target of $63.74.

In other news, CEO David W. Nelms sold 15,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $53.61, for a total transaction of $804,150.00. Following the completion of the transaction, the chief executive officer now directly owns 1,772,014 shares in the company, valued at $94,997,670.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary K. Bush sold 2,229 shares of Discover Financial Services stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $56.98, for a total transaction of $127,008.42. Following the transaction, the director now owns 54,425 shares of the company’s stock, valued at $3,101,136.50. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

5 Day Chart for NYSE:DFS

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