Discover Financial Services (DFS) Holdings Trimmed by Schroder Investment Management Group

Schroder Investment Management Group lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 26.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627,636 shares of the financial services provider’s stock after selling 588,373 shares during the period. Schroder Investment Management Group owned approximately 0.48% of Discover Financial Services worth $124,433,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DFS. Adirondack Trust Co. raised its stake in Discover Financial Services by 204.5% during the 3rd quarter. Adirondack Trust Co. now owns 1,340 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 900 shares in the last quarter. Sandy Spring Bank raised its stake in Discover Financial Services by 181.5% during the 2nd quarter. Sandy Spring Bank now owns 1,689 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,089 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Discover Financial Services by 8,341.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 2,002 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Discover Financial Services by 440.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,670 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 5,435 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Discover Financial Services during the 3rd quarter valued at $163,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DFS stock opened at $68.51 on Friday. Discover Financial Services has a 1 year low of $65.10 and a 1 year high of $81.93. The firm has a market cap of $23.12 billion, a PE ratio of 11.46, a PEG ratio of 0.71 and a beta of 1.50. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.48.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results 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. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. As a group, research analysts expect that Discover Financial Services will post 7.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Wednesday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, November 20th. Discover Financial Services’s payout ratio is 26.76%.

Several analysts have weighed in on the company. Bank of America lifted their target price on Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Wednesday, September 26th. JPMorgan Chase & Co. upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co lifted their price target on Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 1st. Finally, Sandler O’Neill reiterated a “buy” rating and set a $87.00 price target on shares of Discover Financial Services in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $86.40.

In related news, SVP Edward W. Mcgrogan sold 850 shares of Discover Financial Services stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $70.00, for a total value of $59,500.00. Following the transaction, the senior vice president now directly owns 12,075 shares in the company, valued at approximately $845,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia A. Glassman sold 2,000 shares of Discover Financial Services stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $69.50, for a total value of $139,000.00. Following the completion of the transaction, the director now owns 54,032 shares in the company, valued at $3,755,224. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $7,795,625 over the last 90 days. Insiders own 0.81% of the company’s stock.

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Discover Financial Services Company 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.

Further Reading: Investing in Dividend Stocks

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

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