Vision Capital Management Inc. Grows Stake in Discover Financial Services (DFS)

Vision Capital Management Inc. lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 1.6% in the 4th quarter, HoldingsChannel reports. The fund owned 58,676 shares of the financial services provider’s stock after acquiring an additional 898 shares during the quarter. Vision Capital Management Inc.’s holdings in Discover Financial Services were worth $3,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Discover Financial Services by 37.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,487 shares of the financial services provider’s stock worth $1,161,000 after buying an additional 4,467 shares during the period. BlueMountain Capital Management LLC boosted its position in shares of Discover Financial Services by 314.4% in the second quarter. BlueMountain Capital Management LLC now owns 4,907 shares of the financial services provider’s stock worth $346,000 after buying an additional 3,723 shares during the period. Renaissance Technologies LLC boosted its position in shares of Discover Financial Services by 6,545.2% in the second quarter. Renaissance Technologies LLC now owns 279,100 shares of the financial services provider’s stock worth $19,651,000 after buying an additional 274,900 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Discover Financial Services by 145.8% in the second quarter. First Republic Investment Management Inc. now owns 73,597 shares of the financial services provider’s stock worth $5,182,000 after buying an additional 43,660 shares during the period. Finally, Morgan Stanley boosted 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 buying an additional 482,980 shares during the period. 85.90% of the stock is owned by institutional investors and hedge funds.

In other Discover Financial Services news, SVP Edward W. Mcgrogan sold 850 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $70.00, for a total transaction of $59,500.00. Following the transaction, the senior vice president now directly owns 12,075 shares in the company, valued at $845,250. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Carlos Minetti sold 3,750 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $69.79, for a total value of $261,712.50. Following the transaction, the executive vice president now owns 126,352 shares in the company, valued at $8,818,106.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,350 shares of company stock valued at $4,985,938. 0.81% of the stock is owned by corporate insiders.

Shares of NYSE:DFS traded up $0.41 during midday trading on Thursday, hitting $62.54. 226,279 shares of the stock were exchanged, compared to its average volume of 2,261,020. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.58. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $81.93. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 0.57 and a beta of 1.56.

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, hitting the Thomson Reuters’ consensus estimate of $2.05. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.69 billion. On average, sell-side analysts forecast that Discover Financial Services will post 7.84 EPS for the current year.

DFS has been the subject of several recent analyst reports. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Wednesday, September 26th. Bank of America raised their target price on Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Barclays set a $85.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, December 14th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $80.00 target price on shares of Discover Financial Services in a research report on Sunday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $86.44.

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About Discover Financial Services

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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