Trading Report: Today, W.G. Shaheen & Associates DBA Whitney & Co decides to keep it stake in Discover Financial Services (DFS) to the level of $1,414,000

Today, W.G. Shaheen & Associates DBA Whitney & Co decides to keep it stake in Discover Financial Services (DFS) to the level of $1,414,000

W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,005 shares of the financial services provider’s stock after buying an additional 325 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Discover Financial Services were worth $1,414,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Architects Inc boosted its position in shares of Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,652 shares during the last quarter. Evercore Wealth Management LLC boosted its position in shares of Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock valued at $107,000 after buying an additional 396 shares during the last quarter. Mycio Wealth Partners LLC boosted its position in shares of Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock valued at $110,000 after buying an additional 625 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the last quarter. Finally, Seven Eight Capital LLC bought a new position in shares of Discover Financial Services during the second quarter valued at $124,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE:DFS) traded down 0.96% during mid-day trading on Monday, hitting $67.75. 2,143,808 shares of the company’s stock were exchanged. The stock has a market cap of $26.72 billion, a PE ratio of 12.33 and a beta of 1.39. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $68.88. The stock’s 50 day moving average price is $59.64 and its 200-day moving average price is $57.23.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio is currently 21.74%.

Several equities analysts have recently weighed in on DFS shares. Jefferies Group restated a “buy” rating on shares of Discover Financial Services in a report on Friday, August 12th. Deutsche Bank AG restated a “buy” rating and issued a $63.00 price objective on shares of Discover Financial Services in a report on Thursday, August 18th. Credit Suisse Group AG restated a “buy” rating on shares of Discover Financial Services in a report on Tuesday, August 23rd. Barclays PLC cut Discover Financial Services from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 7th. Finally, Wedbush started coverage on Discover Financial Services in a report on Monday, October 10th. They set a “neutral” rating and a $63.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $64.54.

In related news, CFO R. Mark Graf sold 25,032 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $56.78, for a total value of $1,421,316.96. Following the completion of the transaction, the chief financial officer now directly owns 116,052 shares of the company’s stock, valued at approximately $6,589,432.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $56.46, for a total transaction of $846,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,727,268 shares of the company’s stock, valued at $97,521,551.28. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

About Discover Financial Services

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.

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