Pendal Group Ltd boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 151.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,385 shares of the financial services provider’s stock after buying an additional 30,963 shares during the quarter. Pendal Group Ltd’s holdings in Discover Financial Services were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new stake in shares of Discover Financial Services in the first quarter valued at about $26,000. Weaver Consulting Group purchased a new stake in shares of Discover Financial Services in the first quarter valued at about $28,000. IMA Wealth Inc. lifted its holdings in shares of Discover Financial Services by 1,448.3% in the first quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 420 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Discover Financial Services by 66.7% in the first quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Farmers National Bank purchased a new stake in shares of Discover Financial Services in the first quarter valued at about $45,000. Institutional investors own 85.87% of the company’s stock.

In related news, CFO R. Mark Graf sold 4,776 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $92.44, for a total transaction of $441,493.44. Following the completion of the transaction, the chief financial officer now owns 51,296 shares of the company’s stock, valued at $4,741,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane E. Offereins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $91.76, for a total transaction of $1,835,200.00. Following the transaction, the executive vice president now directly owns 120,874 shares of the company’s stock, valued at approximately $11,091,398.24. The disclosure for this sale can be found here. Insiders have sold 27,663 shares of company stock worth $2,534,291 in the last three months. Insiders own 0.81% of the company’s stock.

Shares of DFS traded down $3.44 on Wednesday, hitting $79.51. 40,435 shares of the stock traded hands, compared to its average volume of 2,039,743. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30. The stock has a market cap of $26.40 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.23 and a beta of 1.55. The firm has a 50 day moving average price of $83.22. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $92.98.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 earnings per share. On average, sell-side analysts expect that Discover Financial Services will post 9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.44 per share. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.76 annualized dividend and a dividend yield of 2.21%. Discover Financial Services’s dividend payout ratio is presently 20.54%.

DFS has been the topic of several recent research reports. Goldman Sachs Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $56.00 in a report on Friday, May 3rd. Wells Fargo & Co upped their price target on shares of Discover Financial Services from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Bank of America initiated coverage on shares of Discover Financial Services in a report on Wednesday, June 19th. They issued a “neutral” rating on the stock. BMO Capital Markets upped their price target on shares of Discover Financial Services to $92.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Finally, Morgan Stanley set a $97.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $84.35.

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

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