Today The Massey Quick & Co. LLC Purchases New Position in Discover Financial Services (DFS)

Today The Massey Quick & Co. LLC Purchases New Position in Discover Financial Services (DFS)

Massey Quick & Co. LLC purchased a new position in Discover Financial Services (NYSE:DFS) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,663 shares of the financial services provider’s stock, valued at approximately $192,000.

A number of other hedge funds have also recently made changes to their positions in DFS. Nisa Investment Advisors LLC increased its stake in shares of Discover Financial Services by 8.1% in the second quarter. Nisa Investment Advisors LLC now owns 208,282 shares of the financial services provider’s stock worth $11,162,000 after buying an additional 15,591 shares during the period. Oakbrook Investments LLC increased its position in Discover Financial Services by 4.6% in the second quarter. Oakbrook Investments LLC now owns 52,962 shares of the financial services provider’s stock valued at $2,838,000 after buying an additional 2,350 shares during the last quarter. Pitcairn Co. increased its position in Discover Financial Services by 1.0% in the second quarter. Pitcairn Co. now owns 5,216 shares of the financial services provider’s stock valued at $280,000 after buying an additional 50 shares during the last quarter. Artemis Investment Management LLP bought a new position in Discover Financial Services during the second quarter valued at about $4,310,000. Finally, First Midwest Bank Trust Division increased its position in Discover Financial Services by 17.0% in the second quarter. First Midwest Bank Trust Division now owns 32,772 shares of the financial services provider’s stock valued at $1,756,000 after buying an additional 4,763 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE:DFS) traded down 1.23% on Wednesday, hitting $69.02. 2,600,755 shares of the stock traded hands. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $74.33. The firm’s 50-day moving average price is $71.68 and its 200-day moving average price is $61.85. The stock has a market cap of $27.22 billion, a price-to-earnings ratio of 12.56 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. Discover Financial Services had a net margin of 22.34% and a return on equity of 21.38%. The company earned $2.36 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Discover Financial Services will post $5.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th 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 1.72%. The ex-dividend date is Tuesday, February 7th. Discover Financial Services’s dividend payout ratio is currently 21.74%.

Several equities analysts have issued reports on the stock. Susquehanna downgraded shares of Discover Financial Services from a “positive” rating to a “neutral” rating in a report on Friday, January 6th. Compass Point assumed coverage on shares of Discover Financial Services in a report on Friday, January 6th. They set a “buy” rating on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Sunday, January 8th. DA Davidson reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Wednesday, December 14th. Finally, Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Discover Financial Services currently has a consensus rating of “Buy” and an average target price of $67.09.

In other news, EVP Kathryn Mcnamara Corley sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the executive vice president now owns 156,476 shares of the company’s stock, valued at approximately $8,809,598.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Roger C. Hochschild sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $68.16, for a total transaction of $681,600.00. Following the transaction, the chief operating officer now directly owns 815,872 shares of the company’s stock, valued at approximately $55,609,835.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,261 shares of company stock valued at $3,073,601. Corporate 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.

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

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