Court Place Advisors LLC reduced its position in shares of Discover Financial Services (NYSE:DFS) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 5,790 shares of the financial services provider’s stock after selling 99 shares during the period. Court Place Advisors LLC’s holdings in Discover Financial Services were worth $310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Discover Financial Services during the fourth quarter worth $165,300,000. DnB Asset Management AS boosted its position in Discover Financial Services by 50.6% in the first quarter. DnB Asset Management AS now owns 35,715 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 12,000 shares during the last quarter. Raymond James Trust N.A. boosted its position in Discover Financial Services by 16.3% in the first quarter. Raymond James Trust N.A. now owns 13,376 shares of the financial services provider’s stock worth $681,000 after buying an additional 1,876 shares during the last quarter. OLD National Bancorp IN boosted its position in Discover Financial Services by 2.1% in the first quarter. OLD National Bancorp IN now owns 17,738 shares of the financial services provider’s stock worth $904,000 after buying an additional 371 shares during the last quarter. Finally, PGGM Investments boosted its position in Discover Financial Services by 2.5% in the first quarter. PGGM Investments now owns 299,868 shares of the financial services provider’s stock worth $15,269,000 after buying an additional 7,268 shares during the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Discover Financial Services (NYSE:DFS) traded down 0.51% during midday trading on Tuesday, hitting $56.96. 2,343,857 shares of the stock traded hands. The firm’s 50-day moving average is $58.18 and its 200-day moving average is $54.94. The company has a market cap of $22.99 billion, a price-to-earnings ratio of 10.70 and a beta of 1.20. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the 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%. Analysts predict that Discover Financial Services will post $5.72 EPS for the current year.

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

In other news, SVP Edward W. Mcgrogan sold 1,300 shares of Discover Financial Services stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $56.69, for a total transaction of $73,697.00. Following the sale, the senior vice president now owns 12,072 shares in the company, valued at $684,361.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the chief executive officer now owns 1,772,014 shares in the company, valued at approximately $94,997,670.54. 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.

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