V Wealth Advisors LLC Sells 411 Shares of Discover Financial Services (NYSE:DFS)

V Wealth Advisors LLC decreased its position in Discover Financial Services (NYSE:DFS) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,653 shares of the financial services provider’s stock after selling 411 shares during the quarter. V Wealth Advisors LLC’s holdings in Discover Financial Services were worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DFS. BlackRock Inc. raised its holdings in Discover Financial Services by 6.2% in the first quarter. BlackRock Inc. now owns 23,825,935 shares of the financial services provider’s stock worth $1,695,456,000 after purchasing an additional 1,399,427 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Discover Financial Services by 14.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,174,639 shares of the financial services provider’s stock worth $225,908,000 after purchasing an additional 407,146 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Discover Financial Services by 96.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 645,317 shares of the financial services provider’s stock worth $50,350,000 after purchasing an additional 316,647 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Discover Financial Services by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 3,986,538 shares of the financial services provider’s stock worth $283,680,000 after purchasing an additional 316,589 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Discover Financial Services by 33.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,035,577 shares of the financial services provider’s stock valued at $80,348,000 after acquiring an additional 260,881 shares in the last quarter. Institutional investors and hedge funds own 84.93% of the company’s stock.

Shares of Discover Financial Services stock traded down $0.60 during trading on Friday, hitting $84.03. 512,838 shares of the company’s stock traded hands, compared to its average volume of 2,538,005. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $92.98. The stock has a market cap of $26.83 billion, a PE ratio of 10.79, a P/E/G ratio of 1.23 and a beta of 1.55. The stock has a 50-day simple moving average of $82.70.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the firm posted $1.91 earnings per share. Discover Financial Services’s revenue was up 12.9% compared to the same quarter last year. Research analysts expect that Discover Financial Services will post 9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 21st. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 2.09%. Discover Financial Services’s dividend payout ratio (DPR) is 20.54%.

In related news, EVP Diane E. Offereins sold 20,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.76, for a total transaction of $1,835,200.00. Following the sale, the executive vice president now directly owns 120,874 shares of the company’s stock, valued at $11,091,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary K. Bush sold 496 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total value of $38,454.88. Following the sale, the director now directly owns 53,564 shares in the company, valued at $4,152,816.92. The disclosure for this sale can be found here. Insiders have sold 28,159 shares of company stock worth $2,572,746 over the last ninety days. 0.81% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on DFS. Morgan Stanley raised their price target on Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Nomura raised their price target on Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Oppenheimer downgraded Discover Financial Services from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Co raised their price target on Discover Financial Services from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $84.12.

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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