Nordea Investment Management AB Has $225.39 Million Position in Discover Financial Services (DFS)
Nordea Investment Management AB cut its holdings in Discover Financial Services (NYSE:DFS) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,495,570 shares of the financial services provider’s stock after selling 109,672 shares during the quarter. Nordea Investment Management AB owned 0.96% of Discover Financial Services worth $225,394,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC bought a new position in Discover Financial Services in the 3rd quarter valued at approximately $123,000. Capstone Investment Advisors Netherlands B.V. bought a new position in Discover Financial Services in the 2nd quarter valued at approximately $157,000. Chicago Partners Investment Group LLC bought a new position in Discover Financial Services in the 2nd quarter valued at approximately $168,000. San Francisco Sentry Investment Group CA bought a new position in Discover Financial Services in the 2nd quarter valued at approximately $170,000. Finally, Sun Life Financial INC lifted its position in Discover Financial Services by 19,871.4% in the 2nd quarter. Sun Life Financial INC now owns 2,796 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 2,782 shares in the last quarter. 86.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the transaction, the chief executive officer now directly owns 1,529,912 shares of the company’s stock, valued at approximately $90,417,799.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.79, for a total value of $1,019,081.82. Following the completion of the transaction, the chief operating officer now directly owns 769,440 shares in the company, valued at $51,390,897.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,277 shares of company stock worth $11,020,650. 0.96% of the stock is owned by insiders.
Several equities analysts recently issued reports on the company. ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Discover Financial Services in a research report on Wednesday, October 25th. Barclays PLC set a $73.00 price target on Discover Financial Services and gave the company a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets lowered their price target on Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating on the stock in a report on Wednesday, October 25th. Finally, Bank of America Corporation increased their price target on Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.45.
Discover Financial Services (DFS) opened at $65.40 on Friday. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $74.33. The company has a market capitalization of $23,765.12, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.72 and a beta of 1.52. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be issued a $0.35 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 2.14%. Discover Financial Services’s dividend payout ratio is currently 24.05%.
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Discover Financial Services Profile
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.
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