Global X Management Co. LLC increased its position in Discover Financial Services (NYSE:DFS) by 86.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,685 shares of the financial services provider’s stock after acquiring an additional 4,962 shares during the period. Global X Management Co. LLC’s holdings in Discover Financial Services were worth $822,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of DFS. Grove Bank & Trust grew its holdings in shares of Discover Financial Services by 2,483.3% in the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,490 shares during the period. Rational Advisors LLC bought a new stake in shares of Discover Financial Services in the third quarter worth $123,000. Americafirst Capital Management LLC bought a new stake in shares of Discover Financial Services in the third quarter worth $140,000. Advisory Services Network LLC grew its holdings in shares of Discover Financial Services by 8.5% in the second quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 229 shares during the period. Finally, Arbor Investment Advisors LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth $203,000. 84.08% of the stock is owned by institutional investors.
In other news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. Following the transaction, the chief executive officer now directly owns 1,441,912 shares in the company, valued at $101,150,126.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Diane E. Offereins sold 15,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the transaction, the executive vice president now owns 160,747 shares in the company, valued at $11,310,158.92. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 55,000 shares of company stock worth $16,300 and sold 242,673 shares worth $18,685,542. 0.96% of the stock is owned by insiders.
Several analysts recently commented on the company. JMP Securities lifted their price objective on Discover Financial Services to $91.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Deutsche Bank assumed coverage on Discover Financial Services in a report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price objective for the company. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Monday, December 18th. Finally, BMO Capital Markets lowered their target price on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $85.61.
Discover Financial Services (DFS) opened at $79.63 on Wednesday. Discover Financial Services has a 52-week low of $57.50 and a 52-week high of $81.93. The company has a market capitalization of $28,899.66, a PE ratio of 13.32, a PEG ratio of 1.30 and a beta of 1.54. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.08 and a quick ratio of 1.55.
The firm 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 $0.35 dividend. 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 payout ratio is 25.88%.
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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