Strs Ohio raised its stake in Discover Financial Services (NYSE:DFS) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,414,965 shares of the financial services provider’s stock after buying an additional 49,764 shares during the period. Strs Ohio’s holdings in Discover Financial Services were worth $75,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in Discover Financial Services during the second quarter worth about $287,715,000. Nuveen Asset Management LLC boosted its position in Discover Financial Services by 17.8% in the first quarter. Nuveen Asset Management LLC now owns 696,455 shares of the financial services provider’s stock worth $35,464,000 after buying an additional 105,197 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Discover Financial Services by 3.7% in the second quarter. Handelsbanken Fonder AB now owns 559,946 shares of the financial services provider’s stock worth $30,008,000 after buying an additional 20,000 shares during the last quarter. Legal & General Group Plc boosted its position in Discover Financial Services by 1.3% in the first quarter. Legal & General Group Plc now owns 1,855,863 shares of the financial services provider’s stock worth $94,495,000 after buying an additional 23,330 shares during the last quarter. Finally, CenturyLink Investment Management Co purchased a new position in Discover Financial Services during the second quarter worth about $1,796,000. 85.99% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.51% during mid-day trading on Tuesday, reaching $56.96. 2,343,857 shares of the company’s stock were exchanged. Discover Financial Services has a one year low of $42.86 and a one year high of $60.29. The company’s 50-day moving average price is $58.21 and its 200-day moving average price is $54.92. The company has a market capitalization of $22.99 billion, a PE ratio of 10.70 and a beta of 1.20.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, July 19th. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates 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 expect that Discover Financial Services will post $5.72 earnings per share for the current year.

DFS has been the topic of a number of analyst reports. Nomura restated a “buy” rating and issued a $61.00 price objective on shares of Discover Financial Services in a research report on Friday, May 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 9th. Evercore ISI restated a “buy” rating and issued a $59.00 price objective on shares of Discover Financial Services in a research report on Wednesday, June 15th. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a research report on Wednesday, June 15th. Finally, JMP Securities restated a “buy” rating and issued a $63.00 price objective on shares of Discover Financial Services in a research report on Thursday, June 23rd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price 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 value of $804,150.00. Following the transaction, the chief executive officer now owns 1,772,014 shares of the company’s stock, valued at approximately $94,997,670.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger C. Hochschild sold 10,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $53.72, for a total transaction of $537,200.00. Following the completion of the transaction, the chief operating officer now directly owns 865,772 shares in the company, valued at approximately $46,509,271.84. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

About Discover Financial Services

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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