Discover Financial Services (NYSE:DFS) CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total transaction of $2,004,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Discover Financial Services (NYSE DFS) opened at $67.44 on Monday. Discover Financial Services has a fifty-two week low of $55.71 and a fifty-two week high of $74.33. The company has a market cap of $24,506.39, a price-to-earnings ratio of 11.59, a PEG ratio of 1.78 and a beta of 1.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.

Discover Financial Services announced that its Board of Directors has approved a share buyback plan on Tuesday, July 25th that allows the company to buyback $2.75 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

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Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. bought a new stake in shares of Discover Financial Services during the 3rd quarter valued at $598,000. Candriam Luxembourg S.C.A. boosted its holdings in shares of Discover Financial Services by 7.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 365,307 shares of the financial services provider’s stock valued at $23,555,000 after buying an additional 24,511 shares in the last quarter. Pax World Management LLC bought a new stake in shares of Discover Financial Services during the 3rd quarter valued at $214,000. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Discover Financial Services by 129.0% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 16,593 shares of the financial services provider’s stock valued at $1,070,000 after buying an additional 9,347 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA boosted its holdings in shares of Discover Financial Services by 3.7% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 223,246 shares of the financial services provider’s stock valued at $14,395,000 after buying an additional 8,062 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Several research firms have commented on DFS. Oppenheimer Holdings, Inc. set a $71.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Compass Point downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Nomura decreased their price target on shares of Discover Financial Services from $81.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Bank of America Corporation lifted their price target on shares of Discover Financial Services from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets decreased their price target on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $74.45.

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.

Insider Buying and Selling by Quarter for Discover Financial Services (NYSE:DFS)

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