Point72 Hong Kong Ltd Purchases 12,460 Shares of Discover Financial Services (NYSE:DFS)

Point72 Hong Kong Ltd boosted its position in shares of Discover Financial Services (NYSE:DFS) by 1,158.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,536 shares of the financial services provider’s stock after buying an additional 12,460 shares during the period. Point72 Hong Kong Ltd’s holdings in Discover Financial Services were worth $1,050,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Discover Financial Services by 0.6% during the second quarter. Vanguard Group Inc. now owns 25,322,884 shares of the financial services provider’s stock valued at $1,964,803,000 after purchasing an additional 159,282 shares during the period. BlackRock Inc. raised its holdings in shares of Discover Financial Services by 3.7% in the second quarter. BlackRock Inc. now owns 24,713,231 shares of the financial services provider’s stock worth $1,917,500,000 after buying an additional 887,296 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Discover Financial Services by 12.6% in the second quarter. JPMorgan Chase & Co. now owns 4,489,949 shares of the financial services provider’s stock worth $348,376,000 after buying an additional 503,411 shares during the period. Bessemer Group Inc. raised its holdings in shares of Discover Financial Services by 1.1% in the second quarter. Bessemer Group Inc. now owns 3,204,718 shares of the financial services provider’s stock worth $248,653,000 after buying an additional 35,893 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of 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 buying an additional 407,146 shares during the period. 85.02% of the stock is owned by institutional investors.

NYSE DFS traded down $0.80 during midday trading on Friday, hitting $82.94. 1,652,611 shares of the company traded hands, compared to its average volume of 1,602,915. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $26.83 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The company’s 50-day simple moving average is $81.98 and its 200-day simple moving average is $78.70. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion for 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 business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. On average, research analysts predict that Discover Financial Services will post 9.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 21st. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s dividend payout ratio (DPR) is 22.59%.

Several research analysts recently issued reports on DFS shares. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, September 9th. Deutsche Bank reissued a “hold” rating and issued a $87.00 price objective on shares of Discover Financial Services in a research note on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley set a $97.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, 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 note on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.53.

In other news, CFO R. Mark Graf sold 4,776 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was 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 owns 51,296 shares of the company’s stock, valued at approximately $4,741,802.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward W. Mcgrogan sold 1,894 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 27,663 shares of company stock worth $2,534,291 in the last ninety days. Insiders own 0.81% of the company’s stock.

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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