Todays Report: The Discover Financial Services (DFS) Stake Increased by Alley Co LLC

The Discover Financial Services (DFS) Stake Increased by Alley Co LLC

Alley Co LLC boosted its position in shares of Discover Financial Services (NYSE:DFS) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 33,836 shares of the financial services provider’s stock after buying an additional 876 shares during the period. Alley Co LLC’s holdings in Discover Financial Services were worth $1,813,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Virginia Retirement System bought a new position in shares of Discover Financial Services during the first quarter worth about $353,000. ING Groep NV raised its position in shares of Discover Financial Services by 81.2% in the first quarter. ING Groep NV now owns 9,504 shares of the financial services provider’s stock worth $484,000 after buying an additional 4,258 shares during the period. AMF Pensionsforsakring AB raised its position in shares of Discover Financial Services by 4.5% in the first quarter. AMF Pensionsforsakring AB now owns 1,278,933 shares of the financial services provider’s stock worth $65,123,000 after buying an additional 54,960 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Discover Financial Services by 5.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,895 shares of the financial services provider’s stock worth $606,000 after buying an additional 620 shares during the period. Finally, NWQ Investment Management Company LLC raised its position in shares of Discover Financial Services by 0.5% in the first quarter. NWQ Investment Management Company LLC now owns 2,244,839 shares of the financial services provider’s stock worth $114,307,000 after buying an additional 11,643 shares during the period. 85.42% of the stock is currently owned by institutional investors.

Discover Financial Services (NYSE:DFS) traded up 0.798% during mid-day trading on Friday, reaching $54.945. The company had a trading volume of 1,654,349 shares. The firm’s 50-day moving average is $57.66 and its 200-day moving average is $55.70. Discover Financial Services has a one year low of $42.86 and a one year high of $60.29. The firm has a market capitalization of $22.18 billion, a P/E ratio of 10.322 and a beta of 1.20.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a return on equity of 21.15% and a net margin of 22.41%. On average, equities research analysts anticipate that Discover Financial Services will post $5.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. Discover Financial Services’s payout ratio is 22.47%.

A number of equities analysts recently issued reports on DFS shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Discover Financial Services in a research report on Saturday, July 9th. Nomura reissued a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. RBC Capital Markets reissued a “top pick” rating and issued a $73.00 price target (up previously from $68.00) on shares of Discover Financial Services in a report on Wednesday, July 20th. Credit Suisse Group AG reissued an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 5th. Finally, Jefferies Group reissued a “buy” rating and issued a $66.00 price target on shares of Discover Financial Services in a report on Wednesday, July 20th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Discover Financial Services has an average rating of “Buy” and an average price target of $63.69.

In other news, EVP Diane E. Offereins sold 10,000 shares of Discover Financial Services stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $56.45, for a total transaction of $564,500.00. Following the sale, the executive vice president now directly owns 308,962 shares of the company’s stock, valued at $17,440,904.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Nelms sold 15,000 shares of Discover Financial Services stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $56.46, for a total value of $846,900.00. Following the sale, the chief executive officer now directly owns 1,727,268 shares in the company, valued at $97,521,551.28. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Discover Financial Services Company 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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

Related posts

Leave a Comment