Discover Financial Services (NYSE:DFS) Position Boosted by Healthcare of Ontario Pension Plan Trust Fund


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Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Discover Financial Services (NYSE:DFS) by 161.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,807 shares of the financial services provider’s stock after purchasing an additional 64,707 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Discover Financial Services were worth $9,488,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Clear Street Markets LLC acquired a new position in Discover Financial Services in the fourth quarter worth approximately $208,000. Fort Pitt Capital Group LLC bought a new stake in shares of Discover Financial Services during the 4th quarter worth $54,000. Principal Financial Group Inc. raised its position in shares of Discover Financial Services by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 3,286,042 shares of the financial services provider’s stock worth $297,486,000 after purchasing an additional 106,404 shares during the period. Kozak & Associates Inc. acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $486,000. Finally, Intercontinental Wealth Advisors LLC lifted its holdings in shares of Discover Financial Services by 125.4% during the fourth quarter. Intercontinental Wealth Advisors LLC now owns 2,977 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,656 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Carlos Minetti sold 19,260 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $88.00, for a total value of $1,694,880.00. Following the completion of the sale, the executive vice president now owns 147,293 shares in the company, valued at $12,961,784. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian Hughes sold 10,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $93.91, for a total value of $939,100.00. Following the sale, the executive vice president now directly owns 56,620 shares in the company, valued at approximately $5,317,184.20. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Several analysts have issued reports on the company. Oppenheimer restated a “hold” rating on shares of Discover Financial Services in a report on Tuesday, December 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Discover Financial Services from $104.00 to $110.00 and gave the company a “hold” rating in a report on Friday, January 22nd. BMO Capital Markets raised their price objective on shares of Discover Financial Services from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, January 22nd. Morgan Stanley boosted their target price on shares of Discover Financial Services from $107.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on Discover Financial Services from $72.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Discover Financial Services has an average rating of “Hold” and an average target price of $88.87.

DFS opened at $98.80 on Thursday. Discover Financial Services has a fifty-two week low of $31.09 and a fifty-two week high of $104.49. The business has a 50-day moving average of $96.52 and a 200-day moving average of $83.24. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $30.27 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, January 19th. The financial services provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.17. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a return on equity of 11.00% and a net margin of 7.89%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 3.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Stockholders of record on Thursday, February 18th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, February 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.78%. Discover Financial Services’s dividend payout ratio is currently 19.38%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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

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