Texas Permanent School Fund lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,200 shares of the financial services provider’s stock after selling 3,990 shares during the period. Texas Permanent School Fund’s holdings in Discover Financial Services were worth $7,630,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of DFS. D.A. Davidson CO. increased its position in shares of Discover Financial Services by 20.7% in the 2nd quarter. D.A. Davidson CO. now owns 10,615 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 1,817 shares during the period. Cibc World Markets Corp grew its position in Discover Financial Services by 33.4% during the 2nd quarter. Cibc World Markets Corp now owns 53,721 shares of the financial services provider’s stock worth $3,341,000 after purchasing an additional 13,439 shares during the period. Advisor Group Inc. grew its position in Discover Financial Services by 12.5% during the 2nd quarter. Advisor Group Inc. now owns 23,605 shares of the financial services provider’s stock worth $1,434,000 after purchasing an additional 2,628 shares during the period. Dimensional Fund Advisors LP grew its position in Discover Financial Services by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,136 shares of the financial services provider’s stock worth $105,725,000 after purchasing an additional 4,302 shares during the period. Finally, Numeric Investors LLC acquired a new stake in Discover Financial Services during the 2nd quarter worth about $10,467,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.
In related news, SVP Daniel Peter Capozzi sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $79.97, for a total value of $399,850.00. Following the completion of the sale, the senior vice president now directly owns 23,977 shares of the company’s stock, valued at $1,917,440.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kathryn Mcnamara Corley sold 37,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $80.08, for a total transaction of $2,962,960.00. Following the completion of the sale, the executive vice president now directly owns 147,770 shares of the company’s stock, valued at $11,833,421.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 55,000 shares of company stock valued at $16,300 and have sold 242,673 shares valued at $18,685,542. 0.96% of the stock is currently owned by insiders.
Discover Financial Services (NYSE:DFS) traded up $0.96 during trading hours on Friday, hitting $79.53. 2,096,337 shares of the company’s stock traded hands, compared to its average volume of 2,310,000. The firm has a market capitalization of $28,900.00, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.28 and a beta of 1.54. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $81.93. The company has a current ratio of 1.08, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.40 annualized dividend and a dividend yield of 1.76%. Discover Financial Services’s dividend payout ratio (DPR) is currently 25.88%.
A number of equities research analysts have recently commented on the company. JMP Securities raised their target price on Discover Financial Services to $91.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Deutsche Bank initiated coverage on shares of Discover Financial Services in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price target on the stock. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Monday, December 18th. Finally, BMO Capital Markets decreased their target price on shares of Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $85.61.
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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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