SG Americas Securities LLC increased its stake in shares of Discover Financial Services (NYSE:DFS) by 24.8% during the second quarter, Holdings Channel reports. The institutional investor owned 75,591 shares of the financial services provider’s stock after buying an additional 15,035 shares during the period. SG Americas Securities LLC’s holdings in Discover Financial Services were worth $4,701,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of DFS. Glen Harbor Capital Management LLC boosted its stake in Discover Financial Services by 49.4% in the first quarter. Glen Harbor Capital Management LLC now owns 332,792 shares of the financial services provider’s stock valued at $22,760,000 after buying an additional 110,092 shares in the last quarter. ProShare Advisors LLC boosted its stake in Discover Financial Services by 35.7% in the first quarter. ProShare Advisors LLC now owns 119,754 shares of the financial services provider’s stock valued at $8,190,000 after buying an additional 31,476 shares in the last quarter. Profund Advisors LLC boosted its stake in Discover Financial Services by 5.9% in the first quarter. Profund Advisors LLC now owns 12,820 shares of the financial services provider’s stock valued at $877,000 after buying an additional 713 shares in the last quarter. Foster & Motley Inc. boosted its stake in Discover Financial Services by 11.1% in the first quarter. Foster & Motley Inc. now owns 75,370 shares of the financial services provider’s stock valued at $5,155,000 after buying an additional 7,516 shares in the last quarter. Finally, UMB Bank N A MO boosted its stake in Discover Financial Services by 40.6% in the first quarter. UMB Bank N A MO now owns 4,329 shares of the financial services provider’s stock valued at $296,000 after buying an additional 1,250 shares in the last quarter. 86.20% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE DFS) opened at 59.43 on Friday. The company has a 50-day moving average price of $61.23 and a 200-day moving average price of $64.20. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 10.25 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company posted $1.47 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities research analysts forecast that Discover Financial Services will post $5.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be issued a $0.35 dividend. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 20.73%.

Discover Financial Services declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.23 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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Several research firms recently commented on DFS. Evercore ISI cut their price target on Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. CIBC cut their price target on Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Oppenheimer Holdings, Inc. cut their price target on Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Bank of America Corporation cut Discover Financial Services from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $63.00 in a report on Thursday, July 27th. Finally, Deutsche Bank AG cut Discover Financial Services from a “buy” rating to a “hold” rating and cut their price target for the company from $87.00 to $71.00 in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Buy” and a consensus target price of $74.21.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $62.48, for a total value of $953,319.84. Following the completion of the transaction, the chief operating officer now directly owns 830,257 shares of the company’s stock, valued at approximately $51,874,457.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $62.42, for a total transaction of $499,360.00. Following the completion of the transaction, the executive vice president now directly owns 205,149 shares of the company’s stock, valued at $12,805,400.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,744 shares of company stock valued at $6,658,830. 0.96% of the stock is owned by insiders.

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

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