Discover Financial Services (DFS) Position Trimmed by Advisor Partners LLC
Advisor Partners LLC lowered its position in Discover Financial Services (NYSE:DFS) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,920 shares of the financial services provider’s stock after selling 1,337 shares during the period. Advisor Partners LLC’s holdings in Discover Financial Services were worth $526,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. D.A. Davidson & CO. boosted its holdings in Discover Financial Services by 10.2% in the 4th quarter. D.A. Davidson & CO. now owns 12,250 shares of the financial services provider’s stock worth $723,000 after buying an additional 1,133 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Discover Financial Services by 2.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 41,326 shares of the financial services provider’s stock worth $2,437,000 after buying an additional 1,114 shares during the period. Massey Quick Simon & CO. LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $30,000. Royal London Asset Management Ltd. boosted its holdings in shares of Discover Financial Services by 1.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 140,429 shares of the financial services provider’s stock valued at $8,188,000 after purchasing an additional 2,266 shares during the last quarter. Finally, Heritage Investors Management Corp boosted its holdings in shares of Discover Financial Services by 14.4% during the 4th quarter. Heritage Investors Management Corp now owns 35,297 shares of the financial services provider’s stock valued at $2,082,000 after purchasing an additional 4,445 shares during the last quarter. 86.04% of the stock is owned by institutional investors.
Shares of NYSE DFS opened at $68.40 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.08. The stock has a market cap of $22.75 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 0.91 and a beta of 1.56. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $81.34.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, February 20th. Discover Financial Services’s dividend payout ratio is 20.54%.
Several research firms have commented on DFS. Stephens reissued a “hold” rating and set a $80.00 price objective on shares of Discover Financial Services in a report on Sunday, January 6th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Friday, October 5th. Compass Point set a $74.00 price objective on shares of Discover Financial Services and gave the company a “hold” rating in a report on Friday, January 25th. BMO Capital Markets dropped their price objective on shares of Discover Financial Services to $85.00 and set a “market perform” rating for the company in a report on Friday, January 25th. Finally, Barclays set a $85.00 price objective on shares of Discover Financial Services and gave the company a “buy” rating in a report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Discover Financial Services presently has a consensus rating of “Hold” and an average target price of $81.57.
In other news, Director Cynthia A. Glassman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $69.50, for a total transaction of $139,000.00. Following the sale, the director now directly owns 54,032 shares in the company, valued at approximately $3,755,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carlos Minetti sold 3,750 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $71.98, for a total transaction of $269,925.00. Following the sale, the executive vice president now owns 122,602 shares in the company, valued at $8,824,891.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,750 shares of company stock worth $2,570,425 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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