NuWave Investment Management LLC Takes $505,000 Position in Discover Financial Services (NYSE:DFS)


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NuWave Investment Management LLC purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,317 shares of the financial services provider’s stock, valued at approximately $505,000.

Several other institutional investors have also recently made changes to their positions in DFS. Neo Ivy Capital Management lifted its holdings in shares of Discover Financial Services by 103.8% during the 3rd quarter. Neo Ivy Capital Management now owns 485 shares of the financial services provider’s stock valued at $28,000 after buying an additional 247 shares during the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $30,000. Key Financial Inc bought a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $31,000. Alpha DNA Investment Management LLC bought a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $32,000. Finally, Norway Savings Bank bought a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

DFS opened at $100.18 on Friday. The stock has a market cap of $30.69 billion, a PE ratio of 30.82, a P/E/G ratio of 4.21 and a beta of 1.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.38. Discover Financial Services has a 1 year low of $31.09 and a 1 year high of $104.49. The stock’s 50 day simple moving average is $96.74 and its 200-day simple moving average is $83.66.

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

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

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on 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. Royal Bank of Canada raised their price objective on Discover Financial Services from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. BMO Capital Markets raised their price objective on Discover Financial Services from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Discover Financial Services from $104.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $90.00.

In related news, EVP Carlos Minetti sold 19,260 shares of the business’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $88.00, for a total value of $1,694,880.00. Following the sale, the executive vice president now owns 147,293 shares of the company’s stock, valued at approximately $12,961,784. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Hughes sold 10,000 shares of the business’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $93.91, for a total value of $939,100.00. Following the completion of 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. Insiders own 0.55% of the company’s stock.

Discover Financial Services 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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