Nippon Life Global Investors Americas Inc. acquired a new stake in shares of Discover Financial Services (NYSE:DFS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 66,420 shares of the financial services provider’s stock, valued at approximately $5,386,000.
Other large investors also recently made changes to their positions in the company. Hanseatic Management Services Inc. purchased a new position in Discover Financial Services during the second quarter valued at $157,000. Calamos Advisors LLC increased its holdings in shares of Discover Financial Services by 1.7% in the 2nd quarter. Calamos Advisors LLC now owns 257,301 shares of the financial services provider’s stock worth $19,964,000 after purchasing an additional 4,184 shares in the last quarter. Prudential PLC increased its holdings in shares of Discover Financial Services by 1.4% in the 2nd quarter. Prudential PLC now owns 309,030 shares of the financial services provider’s stock worth $24,104,000 after purchasing an additional 4,356 shares in the last quarter. AE Wealth Management LLC bought a new stake in shares of Discover Financial Services in the 2nd quarter worth $343,000. Finally, Barings LLC grew its holdings in shares of Discover Financial Services by 5.6% in the second quarter. Barings LLC now owns 28,478 shares of the financial services provider’s stock worth $2,210,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.
In other news, Director Mary K. Bush sold 993 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total value of $82,687.11. Following the transaction, the director now directly owns 52,075 shares in the company, valued at $4,336,285.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Mark Graf sold 4,776 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $92.44, for a total value of $441,493.44. Following the completion of the transaction, the chief financial officer now owns 51,296 shares in the company, valued at $4,741,802.24. The disclosure for this sale can be found here. Insiders have sold 27,663 shares of company stock worth $2,534,291 over the last quarter. 0.81% of the stock is owned by company insiders.
Several analysts recently commented on the company. ValuEngine lowered Discover Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley set a $97.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a report on Friday, August 9th. JMP Securities raised Discover Financial Services from an “outperform” rating to a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Discover Financial Services in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $85.53.
NYSE DFS traded up $1.50 on Monday, hitting $80.44. 1,807,808 shares of the company traded hands, compared to its average volume of 1,961,498. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.16 and a beta of 1.61. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The business’s 50 day moving average price is $80.60 and its 200-day moving average price is $79.92. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $92.98.
Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.21. The company had revenue of $2.98 billion for 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%. Discover Financial Services’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 earnings per share. As a group, sell-side analysts predict that Discover Financial Services will post 9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.19%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.59%.
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.
Featured Article: How to Invest in a Bull Market
Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.