World Asset Management Inc Sells 1,669 Shares of Discover Financial Services (NYSE:DFS)

World Asset Management Inc reduced its stake in Discover Financial Services (NYSE:DFS) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,245 shares of the financial services provider’s stock after selling 1,669 shares during the quarter. World Asset Management Inc’s holdings in Discover Financial Services were worth $1,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DFS. Community Bank N.A. bought a new stake in Discover Financial Services in the 3rd quarter valued at $25,000. Girard Partners LTD. bought a new stake in Discover Financial Services in the 3rd quarter valued at $26,000. Benjamin Edwards Inc. acquired a new stake in Discover Financial Services in the 3rd quarter valued at $29,000. Strategic Blueprint LLC acquired a new stake in Discover Financial Services in the 2nd quarter valued at $35,000. Finally, Selective Wealth Management Inc. increased its stake in Discover Financial Services by 100.0% in the 3rd quarter. Selective Wealth Management Inc. now owns 300 shares of the financial services provider’s stock valued at $37,000 after buying an additional 150 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

NYSE DFS traded down $1.67 during trading on Friday, reaching $127.73. The company’s stock had a trading volume of 7,457 shares, compared to its average volume of 1,452,203. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70. Discover Financial Services has a 12 month low of $81.27 and a 12 month high of $135.69. The firm has a 50 day moving average price of $116.79 and a 200 day moving average price of $121.87.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $3.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.01. Discover Financial Services had a net margin of 39.15% and a return on equity of 45.80%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Discover Financial Services will post 17.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Investors of record on Wednesday, November 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Tuesday, November 23rd. Discover Financial Services’s payout ratio is 11.96%.

In related news, Director Cynthia A. Glassman sold 3,200 shares of the stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $123.93, for a total value of $396,576.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carlos Minetti sold 22,000 shares of the stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $123.68, for a total transaction of $2,720,960.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on DFS shares. Seaport Res Ptn upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 2nd. Seaport Research Partners upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Tuesday, November 2nd. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, October 8th. Morgan Stanley lifted their price target on shares of Discover Financial Services from $139.00 to $146.00 and gave the company an “equal weight” rating in a research note on Monday, December 6th. Finally, Seaport Global Securities upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Tuesday, November 2nd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $134.61.

About Discover Financial Services

Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.

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

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