Clear Perspective Advisors LLC lowered its position in shares of Discover Financial Services (NYSE:DFS) by 34.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,654 shares of the financial services provider’s stock after selling 883 shares during the period. Clear Perspective Advisors LLC’s holdings in Discover Financial Services were worth $103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sii Investments Inc. WI purchased a new stake in Discover Financial Services during the 2nd quarter valued at $564,000. Prudential PLC boosted its position in Discover Financial Services by 6.5% during the 2nd quarter. Prudential PLC now owns 460,469 shares of the financial services provider’s stock valued at $28,637,000 after buying an additional 28,135 shares during the period. Williams Jones & Associates LLC boosted its position in Discover Financial Services by 93.0% during the 2nd quarter. Williams Jones & Associates LLC now owns 33,737 shares of the financial services provider’s stock valued at $2,098,000 after buying an additional 16,260 shares during the period. Capital World Investors boosted its position in Discover Financial Services by 18.3% during the 2nd quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock valued at $657,867,000 after buying an additional 1,638,334 shares during the period. Finally, AHL Partners LLP boosted its position in Discover Financial Services by 86.4% during the 2nd quarter. AHL Partners LLP now owns 124,109 shares of the financial services provider’s stock valued at $7,719,000 after buying an additional 57,511 shares during the period. 85.45% of the stock is owned by institutional investors and hedge funds.

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Shares of Discover Financial Services (NYSE:DFS) traded up 0.344% on Thursday, hitting $65.715. 515,390 shares of the company traded hands. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The firm’s 50-day moving average is $60.48 and its 200 day moving average is $61.86. The firm has a market capitalization of $24.47 billion, a P/E ratio of 11.338 and a beta of 1.47.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were paid a $0.35 dividend. The ex-dividend date was Tuesday, August 22nd. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 2.14%. Discover Financial Services’s dividend payout ratio is 24.18%.

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

DFS has been the subject of several analyst reports. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 18th. Instinet reissued a “buy” rating and set a $81.00 price target (down previously from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price target (down previously from $82.00) on shares of Discover Financial Services in a research report on Thursday, July 27th. Finally, BidaskClub cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Discover Financial Services has an average rating of “Buy” and an average target price of $73.63.

In related news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $61.13, for a total value of $1,833,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,559,912 shares of the company’s stock, valued at $95,357,420.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was 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 directly owns 13,085 shares of the company’s stock, valued at $798,970.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is owned by insiders.

Discover Financial Services 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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