Macquarie Group Ltd. cut its stake in Discover Financial Services (NYSE:DFS) by 3.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 274,409 shares of the financial services provider’s stock after selling 9,704 shares during the period. Macquarie Group Ltd. owned approximately 0.07% of Discover Financial Services worth $14,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DFS. Squarepoint Ops LLC purchased a new position in shares of Discover Financial Services during the first quarter valued at about $1,637,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Discover Financial Services by 3.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,027 shares of the financial services provider’s stock valued at $1,224,000 after buying an additional 743 shares during the period. BlueMountain Capital Management LLC purchased a new position in shares of Discover Financial Services during the first quarter valued at about $324,000. Park National Corp OH boosted its position in shares of Discover Financial Services by 4.2% in the second quarter. Park National Corp OH now owns 8,751 shares of the financial services provider’s stock valued at $469,000 after buying an additional 349 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Discover Financial Services by 9.7% in the second quarter. Raymond James Trust N.A. now owns 14,673 shares of the financial services provider’s stock valued at $786,000 after buying an additional 1,297 shares during the period. 83.54% of the stock is currently owned by institutional investors.

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

Shares of Discover Financial Services (NYSE:DFS) traded up 0.28% during trading on Tuesday, hitting $67.94. 1,132,837 shares of the company were exchanged. The stock has a market cap of $26.80 billion, a P/E ratio of 12.36 and a beta of 1.39. The company’s 50-day moving average price is $59.64 and its 200 day moving average price is $57.23. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $68.88.

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

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Several research analysts recently issued reports on DFS shares. Jefferies Group reissued a “buy” rating on shares of Discover Financial Services in a research note on Friday, August 12th. Deutsche Bank AG reaffirmed a “buy” rating and set a $63.00 target price on shares of Discover Financial Services in a research report on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Discover Financial Services in a research report on Tuesday, August 23rd. Barclays PLC cut Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 7th. Finally, Wedbush initiated coverage on Discover Financial Services in a research report on Monday, October 10th. They set a “neutral” rating and a $63.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $64.54.

In related news, EVP Kathryn Mcnamara Corley sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the executive vice president now owns 156,476 shares in the company, valued at $8,809,598.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane E. Offereins sold 10,000 shares of the firm’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 transaction of $564,500.00. Following the sale, the executive vice president now owns 308,962 shares in the company, valued at approximately $17,440,904.90. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Discover Financial Services Company Profile

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

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