Qube Research & Technologies Ltd Has $1.14 Million Position in Discover Financial Services (NYSE:DFS)

Qube Research & Technologies Ltd reduced its holdings in Discover Financial Services (NYSE:DFS) by 14.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,667 shares of the financial services provider’s stock after selling 2,432 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Discover Financial Services were worth $1,138,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DFS. Dimensional Fund Advisors LP lifted its position in Discover Financial Services by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,271,726 shares of the financial services provider’s stock worth $133,983,000 after acquiring an additional 199,220 shares during the period. Geode Capital Management LLC lifted its position in Discover Financial Services by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock worth $271,408,000 after acquiring an additional 76,252 shares during the period. IFM Investors Pty Ltd lifted its position in Discover Financial Services by 7.9% during the 1st quarter. IFM Investors Pty Ltd now owns 22,159 shares of the financial services provider’s stock worth $1,577,000 after acquiring an additional 1,622 shares during the period. Central Bank & Trust Co. lifted its position in Discover Financial Services by 349.3% during the 1st quarter. Central Bank & Trust Co. now owns 63,127 shares of the financial services provider’s stock worth $4,492,000 after acquiring an additional 49,077 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP lifted its position in Discover Financial Services by 1.0% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 107,500 shares of the financial services provider’s stock worth $7,650,000 after acquiring an additional 1,060 shares during the period. Hedge funds and other institutional investors own 85.87% of the company’s stock.

Shares of DFS traded up $1.32 during mid-day trading on Friday, hitting $80.35. The company’s stock had a trading volume of 1,819,000 shares, compared to its average volume of 2,689,400. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The firm has a 50-day simple moving average of $83.35 and a 200 day simple moving average of $76.92. The firm has a market capitalization of $25.15 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.15 and a beta of 1.55. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $92.98.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results 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. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS. As a group, sell-side analysts predict that Discover Financial Services will post 9.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a $0.44 dividend. 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 2.19%. The ex-dividend date of this dividend is Wednesday, August 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.54%.

A number of research firms have weighed in on DFS. Goldman Sachs Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $56.00 in a research report on Friday, May 3rd. Zacks Investment Research cut Discover Financial Services from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Friday, June 7th. Wells Fargo & Co increased their price objective on Discover Financial Services from $82.00 to $88.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Nomura increased their price objective on Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley set a $97.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $84.35.

In other news, SVP Edward W. Mcgrogan sold 1,894 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $92.35, for a total value of $174,910.90. Following the completion of the sale, the senior vice president now directly owns 11,272 shares of the company’s stock, valued at approximately $1,040,969.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO R. Mark Graf sold 4,776 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $92.44, for a total value of $441,493.44. Following the completion of the sale, the chief financial officer now directly owns 51,296 shares of the company’s stock, valued at $4,741,802.24. The disclosure for this sale can be found here. Insiders sold a total of 27,663 shares of company stock valued at $2,534,291 over the last three months. Insiders own 0.81% of the company’s stock.

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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