WMS Partners LLC Has $255,000 Position in Discover Financial Services (DFS)

WMS Partners LLC raised its stake in shares of Discover Financial Services (NYSE:DFS) by 9.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,320 shares of the financial services provider’s stock after purchasing an additional 355 shares during the period. WMS Partners LLC’s holdings in Discover Financial Services were worth $255,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Premier Asset Management LLC bought a new position in shares of Discover Financial Services in the fourth quarter worth $338,000. National Pension Service increased its stake in Discover Financial Services by 6.4% in the fourth quarter. National Pension Service now owns 448,730 shares of the financial services provider’s stock valued at $31,272,000 after acquiring an additional 27,014 shares during the last quarter. Covington Capital Management increased its stake in Discover Financial Services by 17.7% in the fourth quarter. Covington Capital Management now owns 2,327 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 350 shares during the last quarter. Legal & General Group Plc increased its stake in Discover Financial Services by 5.3% in the fourth quarter. Legal & General Group Plc now owns 1,683,777 shares of the financial services provider’s stock valued at $99,309,000 after acquiring an additional 84,003 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Discover Financial Services by 38.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 442,906 shares of the financial services provider’s stock valued at $26,122,000 after acquiring an additional 124,031 shares during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

In other news, insider David W. Nelms sold 60,000 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $67.94, for a total transaction of $4,076,400.00. Following the completion of the sale, the insider now directly owns 1,060,191 shares in the company, valued at $72,029,376.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $71.73, for a total transaction of $268,987.50. Following the sale, the executive vice president now owns 128,327 shares of the company’s stock, valued at $9,204,895.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,062 shares of company stock valued at $8,124,691. 0.81% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the company. JMP Securities increased their target price on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, March 27th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Morgan Stanley upped their price target on shares of Discover Financial Services from $89.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Bank of America set a $80.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Friday, January 25th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Discover Financial Services has an average rating of “Hold” and an average price target of $81.23.

Shares of Discover Financial Services stock traded down $0.40 during trading on Monday, reaching $75.81. 925,900 shares of the stock were exchanged, compared to its average volume of 2,121,818. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market cap of $24.59 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.08 and a beta of 1.60. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $80.36.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, January 24th. The financial services provider reported $2.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.06). The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a return on equity of 26.22% and a net margin of 21.25%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 earnings per share. Research analysts forecast that Discover Financial Services will post 8.64 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “WMS Partners LLC Has $255,000 Position in Discover Financial Services (DFS)” was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/wms-partners-llc-increases-holdings-in-discover-financial-services-dfs.html.

Discover Financial Services Company 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.

Read More: What is a put option?

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

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.