Creative Planning boosted its position in shares of Discover Financial Services (NYSE:DFS) by 14.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,888 shares of the financial services provider’s stock after buying an additional 3,133 shares during the period. Creative Planning’s holdings in Discover Financial Services were worth $1,407,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its stake in Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,652 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock worth $107,000 after buying an additional 396 shares in the last quarter. Mycio Wealth Partners LLC boosted its stake in Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock worth $110,000 after buying an additional 625 shares in the last quarter. Advisory Services Network LLC boosted its stake in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock worth $121,000 after buying an additional 391 shares in the last quarter. Finally, Seven Eight Capital LLC purchased a new stake in Discover Financial Services during the second quarter worth $124,000. Institutional investors and hedge funds own 83.54% of the company’s stock.

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

Shares of Discover Financial Services (NYSE:DFS) traded down 0.96% during midday trading on Monday, reaching $67.75. 2,143,808 shares of the company’s stock traded hands. Discover Financial Services has a 52 week low of $42.86 and a 52 week high of $68.88. The stock’s 50 day moving average is $59.64 and its 200-day moving average is $57.23. The company has a market capitalization of $26.72 billion, a PE ratio of 12.33 and a beta of 1.39.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio (DPR) is presently 21.74%.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another publication, it was copied illegally and reposted in violation of United States & international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2016/11/29/discover-financial-services-dfs-position-boosted-by-creative-planning.html.

A number of analysts have recently weighed in on the stock. JMP Securities raised their price target on shares of Discover Financial Services from $63.00 to $71.00 and gave the company a “market outperform” rating in a report on Tuesday, November 22nd. Jefferies Group reiterated a “buy” rating on shares of Discover Financial Services in a research note on Friday, August 12th. Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday. Stephens assumed coverage on shares of Discover Financial Services in a research note on Friday, November 18th. They issued an “underweight” rating and a $62.00 target price for the company. Finally, Barclays PLC cut shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.54.

In other news, CFO R. Mark Graf sold 25,032 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $56.78, for a total transaction of $1,421,316.96. Following the completion of the sale, the chief financial officer now owns 116,052 shares in the company, valued at $6,589,432.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane E. Offereins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $56.45, for a total value of $564,500.00. Following the sale, the executive vice president now owns 308,962 shares of the company’s stock, valued at approximately $17,440,904.90. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

About Discover Financial Services

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

5 Day Chart for NYSE:DFS

Receive News & Stock Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related stocks with our FREE daily email newsletter.