Profund Advisors LLC trimmed its holdings in Discover Financial Services (NYSE:DFS) by 25.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,591 shares of the financial services provider’s stock after selling 3,229 shares during the period. Profund Advisors LLC’s holdings in Discover Financial Services were worth $596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DFS. V Wealth Management LLC acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at approximately $101,000. FNY Managed Accounts LLC acquired a new position in shares of Discover Financial Services in the 1st quarter valued at approximately $124,000. Orrstown Financial Services Inc. raised its position in shares of Discover Financial Services by 16.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 286 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Discover Financial Services by 2.3% in the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 48 shares in the last quarter. Finally, Financial Architects Inc raised its position in shares of Discover Financial Services by 65.1% in the 2nd quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 1,025 shares in the last quarter. 85.45% of the stock is currently owned by institutional investors.

Discover Financial Services (NYSE:DFS) opened at 64.06 on Thursday. The stock has a 50 day moving average price of $59.72 and a 200 day moving average price of $62.41. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The company has a market cap of $23.85 billion, a PE ratio of 11.05 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. Discover Financial Services’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 EPS. Equities analysts forecast that Discover Financial Services will post $5.92 earnings per share for the current year.

Discover Financial Services announced that its board has authorized a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.23 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.21%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 24.18%.

A number of equities analysts have issued reports on the company. Bank of America Corporation lowered Discover Financial Services from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $63.00 in a research report on Thursday, July 27th. 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. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $75.00 target price (down from $81.00) on shares of Discover Financial Services in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Discover Financial Services presently has a consensus rating of “Buy” and a consensus price target of $73.95.

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In related news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.48, for a total transaction of $953,319.84. Following the completion of the sale, the chief operating officer now directly owns 830,257 shares of the company’s stock, valued at approximately $51,874,457.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.06, for a total value of $74,981.68. Following the sale, the senior vice president now directly owns 13,085 shares of the company’s stock, valued at $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,580,337 over the last ninety days. Insiders own 0.96% 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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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