Achmea Investment Management B.V. reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 46.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,114 shares of the financial services provider’s stock after selling 42,619 shares during the quarter. Achmea Investment Management B.V.’s holdings in Discover Financial Services were worth $3,114,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Sentry Investment Management LLC grew its position in shares of Discover Financial Services by 32.7% during the 2nd quarter. Sentry Investment Management LLC now owns 28,414 shares of the financial services provider’s stock worth $1,767,000 after buying an additional 7,000 shares during the period. Toronto Dominion Bank grew its position in shares of Discover Financial Services by 22.3% during the 2nd quarter. Toronto Dominion Bank now owns 135,459 shares of the financial services provider’s stock worth $8,424,000 after buying an additional 24,725 shares during the period. Advisory Services Network LLC grew its position in shares of Discover Financial Services by 8.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 229 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of Discover Financial Services by 11.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,462 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 1,072 shares during the period. Finally, Wasatch Advisors Inc. grew its position in shares of Discover Financial Services by 6.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 13,152 shares of the financial services provider’s stock valued at $818,000 after purchasing an additional 800 shares during the period. Institutional investors own 85.41% of the company’s stock.
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DFS has been the subject of several research analyst reports. Barclays PLC set a $73.00 price objective on Discover Financial Services and gave the company a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 18th. Instinet reaffirmed a “buy” rating and set a $81.00 price target (down previously from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. set a $71.00 price target on Discover Financial Services and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $74.45.
In related news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the sale, the chief executive officer now owns 1,529,912 shares in the company, valued at $90,417,799.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.51, for a total value of $516,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is currently owned by company insiders.
Discover Financial Services (DFS) traded up 0.13% during mid-day trading on Friday, reaching $66.78. The company had a trading volume of 1,713,309 shares. The stock has a 50 day moving average price of $63.43 and a 200-day moving average price of $61.68. The stock has a market capitalization of $24.87 billion, a P/E ratio of 11.52 and a beta of 1.47. Discover Financial Services has a 12-month low of $55.41 and a 12-month high of $74.33.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a return on equity of 20.74% and a net margin of 20.04%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 EPS. Equities analysts anticipate that Discover Financial Services will post $5.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 2.10%. Discover Financial Services’s dividend payout ratio is currently 24.05%.
Discover Financial Services declared that its Board of Directors has approved a share repurchase program on Tuesday, July 25th that allows the company to repurchase $2.75 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Discover Financial Services Company 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.
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