HighPoint Advisor Group LLC Lowers Position in Discover Financial Services (DFS)

HighPoint Advisor Group LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 19.4% in the first quarter, HoldingsChannel reports. The firm owned 5,647 shares of the financial services provider’s stock after selling 1,360 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Discover Financial Services were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DFS. Cobiz Wealth LLC boosted its holdings in shares of Discover Financial Services by 0.4% in the 1st quarter. Cobiz Wealth LLC now owns 45,524 shares of the financial services provider’s stock valued at $3,408,000 after buying an additional 190 shares during the last quarter. Essex Savings Bank lifted its holdings in Discover Financial Services by 66.7% during the 1st quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Buckley Wealth Management LLC lifted its holdings in Discover Financial Services by 5.7% during the 4th quarter. Buckley Wealth Management LLC now owns 4,978 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 270 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in Discover Financial Services by 2.7% during the 4th quarter. Stanley Laman Group Ltd. now owns 10,447 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 271 shares during the last quarter. Finally, Steinberg Global Asset Management lifted its holdings in Discover Financial Services by 2.1% during the 1st quarter. Steinberg Global Asset Management now owns 13,653 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 279 shares during the last quarter. 87.79% of the stock is owned by institutional investors and hedge funds.

DFS stock opened at $78.66 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.18 and a beta of 1.64. Discover Financial Services has a fifty-two week low of $54.36 and a fifty-two week high of $82.51.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.13. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $1.82 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that Discover Financial Services will post 8.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, May 23rd. Discover Financial Services’s payout ratio is currently 20.54%.

In related news, insider David W. Nelms sold 29,300 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $72.46, for a total value of $2,123,078.00. Following the transaction, the insider now owns 970,891 shares in the company, valued at $70,350,761.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary K. Bush sold 496 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total value of $38,454.88. Following the completion of the transaction, the director now owns 53,564 shares in the company, valued at approximately $4,152,816.92. The disclosure for this sale can be found here. Insiders sold 85,169 shares of company stock worth $6,615,921 in the last 90 days. 0.81% of the stock is owned by company insiders.

Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday. CIBC reaffirmed a “market perform” rating on shares of Discover Financial Services in a report on Tuesday, May 7th. Compass Point set a $74.00 price objective on Discover Financial Services and gave the stock a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Goldman Sachs Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $56.00 in a research report on Friday, May 3rd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $81.69.

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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.

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

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