Dupont Capital Management Corp Has $6.82 Million Stake in Discover Financial Services (DFS)
Dupont Capital Management Corp raised its stake in Discover Financial Services (NYSE:DFS) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,611 shares of the financial services provider’s stock after buying an additional 19,801 shares during the period. Dupont Capital Management Corp’s holdings in Discover Financial Services were worth $6,817,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. V Wealth Management LLC purchased a new position in Discover Financial Services during the second quarter worth about $101,000. FNY Managed Accounts LLC purchased a new position in Discover Financial Services during the first quarter worth about $124,000. Orrstown Financial Services Inc. raised its position in Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after buying an additional 286 shares during the last quarter. Perigon Wealth Management LLC raised its position in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares during the last quarter. Finally, Financial Architects Inc raised its position in Discover Financial Services by 65.1% in the second quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,025 shares during the last quarter. Institutional investors own 86.20% of the company’s stock.
Discover Financial Services (NYSE DFS) opened at 60.50 on Tuesday. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The company has a market capitalization of $22.53 billion, a P/E ratio of 10.44 and a beta of 1.46. The company’s 50-day moving average is $61.29 and its 200 day moving average is $64.38.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the company posted $1.47 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. Analysts predict that Discover Financial Services will post $5.93 EPS for the current year.
Discover Financial Services announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $2.23 billion in shares. This buyback authorization permits the financial services provider to buy up to 9.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Discover Financial Services’s dividend payout ratio is 20.73%.
A number of research firms recently issued reports on DFS. Barclays PLC reiterated an “equal weight” rating and issued a $70.00 target price (down from $79.00) on shares of Discover Financial Services in a research note on Thursday, July 13th. Oppenheimer Holdings, Inc. set a $69.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, July 26th. Bank of America Corporation lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $63.00 in a research note on Thursday, July 27th. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, BidaskClub upgraded shares of Discover Financial Services from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. Discover Financial Services has an average rating of “Buy” and a consensus target price of $74.21.
In related news, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00. Following the completion of the sale, the executive vice president now owns 197,149 shares of the company’s stock, valued at $12,083,262.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Insiders sold 107,744 shares of company stock worth $6,658,830 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.
About Discover Financial Services
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.
Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.