Dupont Capital Management Corp Has $6.07 Million Holdings in Discover Financial Services (DFS)

Dupont Capital Management Corp grew its position in Discover Financial Services (NYSE:DFS) by 15.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,330 shares of the financial services provider’s stock after acquiring an additional 10,459 shares during the period. Dupont Capital Management Corp’s holdings in Discover Financial Services were worth $6,065,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Boston Partners raised its position in shares of Discover Financial Services by 0.8% in the second quarter. Boston Partners now owns 12,463,962 shares of the financial services provider’s stock worth $877,588,000 after acquiring an additional 95,312 shares during the period. Morgan Stanley raised its position in shares of Discover Financial Services by 11.0% in the second quarter. Morgan Stanley now owns 4,863,732 shares of the financial services provider’s stock worth $342,452,000 after acquiring an additional 482,980 shares during the period. Bank of Montreal Can raised its position in shares of Discover Financial Services by 3.8% in the third quarter. Bank of Montreal Can now owns 2,315,912 shares of the financial services provider’s stock worth $177,053,000 after acquiring an additional 85,508 shares during the period. Schroder Investment Management Group raised its position in shares of Discover Financial Services by 2.1% in the second quarter. Schroder Investment Management Group now owns 2,216,009 shares of the financial services provider’s stock worth $155,475,000 after acquiring an additional 45,603 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Discover Financial Services by 7.5% in the second quarter. Bank of America Corp DE now owns 1,844,422 shares of the financial services provider’s stock worth $129,865,000 after acquiring an additional 129,286 shares during the period. Institutional investors and hedge funds own 85.66% of the company’s stock.

In related news, SVP Edward W. Mcgrogan sold 850 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $70.00, for a total transaction of $59,500.00. Following the completion of the sale, the senior vice president now owns 12,075 shares of the company’s stock, valued at approximately $845,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $78.11, for a total transaction of $2,343,300.00. Following the sale, the chief executive officer now directly owns 1,210,798 shares of the company’s stock, valued at approximately $94,575,431.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,100 shares of company stock valued at $7,795,625. 0.81% of the stock is owned by corporate insiders.

Shares of NYSE DFS opened at $70.56 on Friday. Discover Financial Services has a 12-month low of $63.31 and a 12-month high of $81.93. The stock has a market cap of $23.77 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.73 and a beta of 1.50. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.48 and a quick ratio of 1.48.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.05. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.69 billion. As a group, equities analysts forecast that Discover Financial Services will post 7.83 earnings per share for the current year.

Discover Financial Services announced that its board has authorized a stock repurchase plan on Thursday, July 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.60 annualized dividend and a yield of 2.27%. Discover Financial Services’s dividend payout ratio is presently 26.76%.

DFS has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, July 24th. Sandler O’Neill restated a “buy” rating and set a $87.00 price target on shares of Discover Financial Services in a research report on Friday, July 27th. Wells Fargo & Co reduced their price target on shares of Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. Bank of America upped their price target on shares of Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, ValuEngine downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Discover Financial Services has a consensus rating of “Buy” and a consensus price target of $86.80.

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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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