Signet Financial Management LLC decreased its stake in Discover Financial Services (NYSE:DFS) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,102 shares of the financial services provider’s stock after selling 5,502 shares during the period. Signet Financial Management LLC’s holdings in Discover Financial Services were worth $4,469,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Weaver Consulting Group bought a new position in shares of Discover Financial Services in the first quarter worth $28,000. Icon Wealth Partners LLC bought a new stake in shares of Discover Financial Services in the 1st quarter worth $26,000. Semmax Financial Advisors Inc. raised its stake in shares of Discover Financial Services by 75.6% in the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. Next Capital Management LLC bought a new position in shares of Discover Financial Services during the second quarter valued at $34,000. Finally, IMA Wealth Inc. lifted its holdings in shares of Discover Financial Services by 1,448.3% during the first quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 420 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO R. Mark Graf sold 4,776 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $92.44, for a total value of $441,493.44. Following the completion of the sale, the chief financial officer now directly owns 51,296 shares of the company’s stock, valued at approximately $4,741,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary K. Bush sold 993 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total value of $82,687.11. Following the completion of the sale, the director now directly owns 52,075 shares of the company’s stock, valued at $4,336,285.25. The disclosure for this sale can be found here. Insiders sold a total of 27,663 shares of company stock valued at $2,534,291 over the last three months. Corporate insiders own 0.81% of the company’s stock.
Several research firms recently commented on DFS. UBS Group lifted their price objective on Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Nomura raised their price target on shares of Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Co boosted their price objective on shares of Discover Financial Services from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $85.53.
NYSE:DFS traded down $0.21 during trading hours on Wednesday, reaching $84.11. The stock had a trading volume of 95,941 shares, compared to its average volume of 1,580,983. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.33. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98. The company has a 50 day moving average price of $83.20 and a two-hundred day moving average price of $78.13. The stock has a market capitalization of $26.88 billion, a PE ratio of 10.80, a PEG ratio of 1.23 and a beta of 1.60.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.21. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. Equities research analysts predict that Discover Financial Services will post 9.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.44 dividend. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, August 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.59%.
About Discover Financial Services
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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