Discover Financial Services (NYSE:DFS) Holdings Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,246 shares of the financial services provider’s stock after selling 352 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Discover Financial Services were worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC raised its position in Discover Financial Services by 0.7% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 24 shares during the period. Advisor Partners LLC raised its position in Discover Financial Services by 0.4% in the 2nd quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 27 shares during the period. First Bank & Trust raised its position in Discover Financial Services by 1.4% in the 2nd quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 42 shares during the period. Perigon Wealth Management LLC increased its position in shares of Discover Financial Services by 2.3% during the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 48 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in shares of Discover Financial Services by 0.8% during the second quarter. Stratos Wealth Partners LTD. now owns 7,339 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 57 shares during the period. 85.45% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services (NYSE DFS) opened at 61.41 on Friday. The stock has a 50 day moving average of $59.72 and a 200-day moving average of $62.41. The stock has a market capitalization of $22.87 billion, a P/E ratio of 10.60 and a beta of 1.45. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.05). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm posted $1.47 earnings per share. Discover Financial Services’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.28%. Discover Financial Services’s payout ratio is 24.18%.

Discover Financial Services announced that its board has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the sale, the chief executive officer now owns 1,529,912 shares in the company, valued at approximately $90,417,799.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.42, for a total value of $499,360.00. Following the sale, the executive vice president now owns 205,149 shares in the company, valued at approximately $12,805,400.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,002 shares of company stock worth $9,580,337. 0.96% of the stock is owned by company insiders.

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A number of equities analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 target price (down from $82.00) on shares of Discover Financial Services in a research report on Thursday, July 27th. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Barclays PLC reiterated an “equal weight” rating and set a $70.00 price objective (down from $79.00) on shares of Discover Financial Services in a research note on Thursday, July 13th. Finally, Morgan Stanley lowered their target price on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.95.

Discover Financial Services Profile

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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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