Macquarie Group Ltd. lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,953 shares of the financial services provider’s stock after selling 600 shares during the period. Macquarie Group Ltd.’s holdings in Discover Financial Services were worth $9,611,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in DFS. Financial Gravity Companies Inc. purchased a new position in Discover Financial Services in the 4th quarter worth about $29,000. Cerebellum GP LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $30,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $30,000. Berman Capital Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $37,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Discover Financial Services by 5,727.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,230,742 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 2,192,460 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.
In other Discover Financial Services news, CEO Roger C. Hochschild purchased 30,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was acquired at an average cost of $66.67 per share, for a total transaction of $2,000,100.00. Following the purchase, the chief executive officer now directly owns 834,457 shares of the company’s stock, valued at approximately $55,633,248.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Minetti sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.73, for a total value of $268,987.50. Following the completion of the transaction, 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. Insiders sold a total of 117,062 shares of company stock valued at $8,124,691 over the last 90 days. 0.81% of the stock is currently owned by corporate insiders.
Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.13. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a return on equity of 26.22% and a net margin of 21.25%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. Equities research analysts predict that Discover Financial Services will post 8.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.60 annualized dividend and a yield of 1.97%. Discover Financial Services’s payout ratio is 20.54%.
DFS has been the subject of several research reports. Oppenheimer set a $79.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Wednesday, April 17th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, March 27th. 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. Nomura upped their price target on shares of Discover Financial Services from $81.00 to $86.00 and gave the company a “buy” rating in a research report on Friday. Finally, Compass Point set a $74.00 price target on shares of Discover Financial Services and gave the company a “hold” rating in a research report on Friday, January 25th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $81.40.
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About Discover Financial Services
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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