Mackay Shields LLC cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 192,196 shares of the financial services provider’s stock after selling 1,582 shares during the quarter. Mackay Shields LLC’s holdings in Discover Financial Services were worth $11,335,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new position in shares of Discover Financial Services in the fourth quarter worth $29,000. Cerebellum GP LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $30,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $30,000. Berman Capital Advisors LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $37,000. Finally, Hanson McClain Inc. increased its stake in shares of Discover Financial Services by 78.5% in the fourth quarter. Hanson McClain Inc. now owns 682 shares of the financial services provider’s stock worth $40,000 after buying an additional 300 shares during the period. 84.51% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on DFS. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday, November 27th. Morgan Stanley lifted their price target on shares of Discover Financial Services from $89.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Barclays set a $85.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a report on Friday, December 14th. Compass Point set a $74.00 price target on shares of Discover Financial Services and gave the company a “hold” rating in a report on Friday, January 25th. Finally, Bank of America set a $80.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.64.

In other Discover Financial Services news, CEO Roger C. Hochschild bought 30,000 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were purchased at an average price of $66.67 per share, for a total transaction of $2,000,100.00. Following the acquisition, the chief executive officer now owns 834,457 shares in the company, valued at approximately $55,633,248.19. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider David W. Nelms sold 29,300 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $72.46, for a total transaction of $2,123,078.00. Following the completion of the transaction, the insider now owns 970,891 shares in the company, valued at approximately $70,350,761.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,312 shares of company stock worth $7,855,704. Company insiders own 0.81% of the company’s stock.

Shares of DFS stock opened at $73.16 on Friday. Discover Financial Services has a 12 month low of $54.36 and a 12 month high of $80.36. The firm has a market cap of $23.43 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.58.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, January 24th. The financial services provider reported $2.03 EPS for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.06). Discover Financial Services had a net margin of 21.25% and a return on equity of 26.22%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the firm posted $1.51 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts expect that Discover Financial Services will post 8.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, February 20th. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.54%.

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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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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).

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

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