Hartford Investment Management Co. lowered its position in Discover Financial Services (NYSE:DFS) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,458 shares of the financial services provider’s stock after selling 2,589 shares during the quarter. Hartford Investment Management Co.’s holdings in Discover Financial Services were worth $5,188,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DFS. Russell Investments Group Ltd. raised its stake in shares of Discover Financial Services by 60.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 355,539 shares of the financial services provider’s stock valued at $22,113,000 after purchasing an additional 134,552 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Discover Financial Services by 3,355.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 15,548 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 15,098 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Discover Financial Services by 9.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 27,978 shares of the financial services provider’s stock valued at $1,740,000 after purchasing an additional 2,395 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in shares of Discover Financial Services in the 2nd quarter valued at about $657,000. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Discover Financial Services by 0.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,339 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.80, for a total value of $2,004,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.51, for a total transaction of $516,080.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,019 shares of company stock valued at $8,099,143. 0.96% of the stock is owned by insiders.

Discover Financial Services (DFS) opened at $71.12 on Friday. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $74.33. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. The company has a market cap of $25,843.66, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.53.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.97%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 24.05%.

A number of brokerages have recently issued reports on DFS. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Buckingham Research began coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They set a “buy” rating and a $74.00 price objective on the stock. Barclays set a $73.00 price objective on shares of Discover Financial Services and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Compass Point lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.45.

WARNING: “Discover Financial Services (DFS) Holdings Reduced by Hartford Investment Management Co.” was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.watchlistnews.com/discover-financial-services-dfs-holdings-reduced-by-hartford-investment-management-co/1740968.html.

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)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with Analyst Ratings Network's FREE daily email newsletter.