Discover Financial Services (NYSE:DFS) Stake Boosted by MML Investors Services LLC

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MML Investors Services LLC increased its stake in Discover Financial Services (NYSE:DFS) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,603 shares of the financial services provider’s stock after purchasing an additional 5,030 shares during the quarter. MML Investors Services LLC’s holdings in Discover Financial Services were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DFS. Landmark Bank grew its stake in shares of Discover Financial Services by 0.4% in the 2nd quarter. Landmark Bank now owns 32,284 shares of the financial services provider’s stock valued at $2,505,000 after buying an additional 142 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Discover Financial Services by 1.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 15,472 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 168 shares in the last quarter. Girard Partners LTD. grew its stake in shares of Discover Financial Services by 5.0% in the 2nd quarter. Girard Partners LTD. now owns 3,548 shares of the financial services provider’s stock valued at $275,000 after buying an additional 169 shares in the last quarter. Semmax Financial Advisors Inc. grew its stake in shares of Discover Financial Services by 75.6% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock valued at $32,000 after buying an additional 180 shares in the last quarter. Finally, SevenBridge Financial Group LLC grew its stake in shares of Discover Financial Services by 5.7% in the 2nd quarter. SevenBridge Financial Group LLC now owns 3,397 shares of the financial services provider’s stock valued at $264,000 after buying an additional 182 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Mary K. Bush sold 993 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total transaction of $82,687.11. Following the completion of the transaction, the director now directly owns 52,075 shares in the company, valued at $4,336,285.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO R. Mark Graf sold 4,776 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $92.44, for a total value of $441,493.44. Following the transaction, the chief financial officer now owns 51,296 shares of the company’s stock, valued at $4,741,802.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,663 shares of company stock valued at $2,534,291. Corporate insiders own 0.81% of the company’s stock.

Several brokerages recently commented on DFS. Morgan Stanley set a $97.00 price target on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays boosted their target price on Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group boosted their target price on Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, JMP Securities upgraded Discover Financial Services from an “outperform” rating to a “buy” rating in a report on Thursday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.53.

DFS traded up $0.61 on Friday, hitting $85.11. The company had a trading volume of 450,331 shares, compared to its average volume of 1,578,364. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $92.98. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The company’s fifty day moving average price is $83.20 and its 200 day moving average price is $78.19. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.33 and a quick ratio of 1.33.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts forecast that Discover Financial Services will post 9.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.07%. Discover Financial Services’s payout ratio is 22.59%.

Discover Financial Services 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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