Semmax Financial Advisors Inc. boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 75.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 418 shares of the financial services provider’s stock after purchasing an additional 180 shares during the period. Semmax Financial Advisors Inc.’s holdings in Discover Financial Services were worth $32,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Discover Financial Services by 6.2% during the 1st quarter. BlackRock Inc. now owns 23,825,935 shares of the financial services provider’s stock worth $1,695,456,000 after purchasing an additional 1,399,427 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Discover Financial Services by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock valued at $271,408,000 after acquiring an additional 76,252 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Discover Financial Services by 8.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,986,538 shares of the financial services provider’s stock valued at $283,680,000 after acquiring an additional 316,589 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Discover Financial Services by 1.1% in the 2nd quarter. Bessemer Group Inc. now owns 3,204,718 shares of the financial services provider’s stock valued at $248,653,000 after acquiring an additional 35,893 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Discover Financial Services by 14.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,174,639 shares of the financial services provider’s stock valued at $225,908,000 after acquiring an additional 407,146 shares during the last quarter. 85.15% of the stock is currently owned by institutional investors.
In related news, Director Mary K. Bush sold 993 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total transaction of $82,687.11. Following the sale, the director now directly owns 52,075 shares of the company’s stock, valued at $4,336,285.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane E. Offereins sold 20,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.76, for a total transaction of $1,835,200.00. Following the sale, the executive vice president now directly owns 120,874 shares in the company, valued at $11,091,398.24. 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 three months. 0.81% of the stock is currently owned by insiders.
DFS has been the topic of several recent research reports. Deutsche Bank reaffirmed a “hold” rating and issued a $87.00 price objective on shares of Discover Financial Services in a report on Monday, July 8th. UBS Group upped their price objective on shares of Discover Financial Services from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. JMP Securities raised shares of Discover Financial Services from an “outperform” rating to a “buy” rating in a report on Thursday, July 25th. Goldman Sachs Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $51.00 to $56.00 in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $84.35.
NYSE DFS traded down $2.92 during mid-day trading on Friday, reaching $76.76. 1,397,141 shares of the stock were exchanged, compared to its average volume of 2,071,386. The business’s 50 day moving average is $83.52 and its 200-day moving average is $77.20. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $92.98. The company has a market capitalization of $25.36 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.16 and a beta of 1.55. 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 (NYSE:DFS) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that Discover Financial Services will post 9.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 2.29%. Discover Financial Services’s dividend payout ratio is 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.
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