Achmea Investment Management B.V. decreased its stake in Discover Financial Services (NYSE:DFS) by 26.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,368 shares of the financial services provider’s stock after selling 13,246 shares during the period. Achmea Investment Management B.V.’s holdings in Discover Financial Services were worth $2,855,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in DFS. O Shaughnessy Asset Management LLC lifted its stake in Discover Financial Services by 26.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 104,421 shares of the financial services provider’s stock valued at $7,964,000 after purchasing an additional 22,039 shares during the last quarter. Unigestion Holding SA lifted its position in Discover Financial Services by 33.7% during the third quarter. Unigestion Holding SA now owns 23,069 shares of the financial services provider’s stock worth $1,764,000 after acquiring an additional 5,810 shares during the last quarter. Dupont Capital Management Corp lifted its position in Discover Financial Services by 15.2% during the third quarter. Dupont Capital Management Corp now owns 79,330 shares of the financial services provider’s stock worth $6,065,000 after acquiring an additional 10,459 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Discover Financial Services by 78.9% during the third quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 1,251 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Discover Financial Services by 4.1% during the third quarter. Janney Montgomery Scott LLC now owns 86,875 shares of the financial services provider’s stock worth $6,642,000 after acquiring an additional 3,411 shares during the last quarter. Institutional investors own 86.26% of the company’s stock.
NYSE:DFS traded down $5.31 during mid-day trading on Wednesday, reaching $66.38. The stock had a trading volume of 3,513,276 shares, compared to its average volume of 1,676,099. The stock has a market capitalization of $23.95 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.73 and a beta of 1.51. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.48 and a quick ratio of 1.48. Discover Financial Services has a 12 month low of $66.32 and a 12 month high of $81.93.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.41%. Discover Financial Services’s payout ratio is presently 26.76%.
In related news, insider David W. Nelms sold 30,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $72.05, for a total value of $2,161,500.00. Following the sale, the insider now owns 1,120,798 shares of the company’s stock, valued at $80,753,495.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $69.79, for a total transaction of $261,712.50. Following the completion of the sale, the executive vice president now directly owns 126,352 shares in the company, valued at approximately $8,818,106.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,100 shares of company stock worth $7,590,463. Insiders own 0.81% of the company’s stock.
DFS has been the subject of several research reports. Wells Fargo & Co cut their price objective on shares of Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. JPMorgan Chase & Co. upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 2nd. Bank of America raised their price objective on shares of Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Citigroup cut their price objective on shares of Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $86.40.
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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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