Blair William & Co. IL reduced its position in Discover Financial Services (NYSE:DFS) by 74.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,744 shares of the financial services provider’s stock after selling 64,108 shares during the period. Blair William & Co. IL’s holdings in Discover Financial Services were worth $1,352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DFS. Jaffetilchin Investment Partners LLC raised its stake in Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock valued at $221,000 after buying an additional 24 shares during the last quarter. Advisor Partners LLC raised its stake in Discover Financial Services by 0.4% in the second quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock valued at $445,000 after buying an additional 27 shares in the last quarter. First Bank & Trust raised its stake in Discover Financial Services by 1.4% in the second quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock valued at $195,000 after buying an additional 42 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in Discover Financial Services by 0.8% in the second quarter. Stratos Wealth Partners LTD. now owns 7,339 shares of the financial services provider’s stock valued at $456,000 after buying an additional 57 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services (DFS) opened at 59.69 on Monday. The firm has a market capitalization of $22.23 billion, a PE ratio of 10.30 and a beta of 1.46. The company has a 50 day moving average price of $60.92 and a 200-day moving average price of $63.87. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.05. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that Discover Financial Services will post $5.93 EPS for the current fiscal year.

Discover Financial Services announced that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.23 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.18%.

ILLEGAL ACTIVITY NOTICE: “Discover Financial Services (DFS) Stake Cut by Blair William & Co. IL” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.thecerbatgem.com/2017/08/28/discover-financial-services-dfs-stake-cut-by-blair-william-co-il.html.

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $75.00 target price (down from $82.00) on shares of Discover Financial Services in a research report on Thursday, July 27th. Bank of America Corporation downgraded Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $63.00 in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. set a $69.00 target price on Discover Financial Services and gave the company a “buy” rating in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Buy” and a consensus target price of $74.21.

In related news, SVP Edward W. Mcgrogan sold 1,228 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $61.06, for a total value of $74,981.68. Following the completion of the sale, the senior vice president now owns 13,085 shares in the company, valued at $798,970.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Nelms sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $61.13, for a total transaction of $1,833,900.00. Following the completion of the sale, the chief executive officer now owns 1,559,912 shares of the company’s stock, valued at approximately $95,357,420.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,744 shares of company stock valued at $6,658,830. 0.96% of the stock is owned by corporate insiders.

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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (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.