Ativo Capital Management LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,863 shares of the financial services provider’s stock after selling 90 shares during the period. Ativo Capital Management LLC’s holdings in Discover Financial Services were worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DFS. BlackRock Inc. lifted its stake in Discover Financial Services by 3,280.4% in the first quarter. BlackRock Inc. now owns 30,704,582 shares of the financial services provider’s stock worth $2,099,886,000 after purchasing an additional 29,796,268 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Discover Financial Services by 1,458.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,559,909 shares of the financial services provider’s stock worth $221,391,000 after purchasing an additional 3,331,498 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Discover Financial Services in the second quarter worth $199,350,000. Principal Financial Group Inc. lifted its stake in Discover Financial Services by 492.6% in the second quarter. Principal Financial Group Inc. now owns 3,504,010 shares of the financial services provider’s stock worth $217,914,000 after purchasing an additional 2,912,742 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in Discover Financial Services by 19.5% in the first quarter. Primecap Management Co. CA now owns 6,681,700 shares of the financial services provider’s stock worth $456,961,000 after purchasing an additional 1,088,500 shares during the last quarter. 85.45% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on DFS. Bank of America Corporation downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $63.00 in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $69.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Morgan Stanley reissued an “overweight” rating and issued a $75.00 price target (down from $81.00) on shares of Discover Financial Services in a research note on Thursday, July 6th. Barclays PLC reissued an “equal weight” rating and issued a $70.00 price target (down from $79.00) on shares of Discover Financial Services in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.95.

In other news, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $62.42, for a total value of $499,360.00. Following the completion of the sale, the executive vice president now owns 205,149 shares in the company, valued at approximately $12,805,400.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $61.06, for a total transaction of $74,981.68. Following the completion of the sale, the senior vice president now owns 13,085 shares of the company’s stock, valued at approximately $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,580,337 in the last quarter. 0.96% of the stock is currently owned by company insiders.

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Discover Financial Services (NYSE DFS) opened at 61.41 on Friday. The stock has a market cap of $22.87 billion, a PE ratio of 10.60 and a beta of 1.45. The company’s 50 day moving average is $59.72 and its 200 day moving average is $62.41. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business earned $1.47 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Discover Financial Services will post $5.92 EPS for the current fiscal year.

Discover Financial Services announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were issued a dividend of $0.35 per share. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 2.28%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.18%.

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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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