Dynamic Technology Lab Private Ltd increased its stake in shares of Discover Financial Services (NYSE:DFS) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,462 shares of the financial services provider’s stock after acquiring an additional 1,072 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Discover Financial Services were worth $650,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Prudential Financial Inc. raised its holdings in shares of Discover Financial Services by 6.5% during the second quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock worth $57,286,000 after acquiring an additional 56,046 shares during the period. Calamos Advisors LLC raised its holdings in shares of Discover Financial Services by 120.3% during the second quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock worth $39,453,000 after acquiring an additional 346,406 shares during the period. Annex Advisory Services LLC raised its holdings in shares of Discover Financial Services by 23.9% during the second quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 3,027 shares during the period. Bank of Nova Scotia raised its holdings in shares of Discover Financial Services by 171.5% during the first quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock worth $6,045,000 after acquiring an additional 55,840 shares during the period. Finally, Edge Asset Management Inc. raised its holdings in shares of Discover Financial Services by 2.7% during the first quarter. Edge Asset Management Inc. now owns 2,561,054 shares of the financial services provider’s stock worth $175,151,000 after acquiring an additional 67,475 shares during the period. Institutional investors and hedge funds own 85.45% of the company’s stock.

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Discover Financial Services (DFS) opened at 65.31 on Thursday. The stock has a 50 day moving average of $62.04 and a 200-day moving average of $61.65. Discover Financial Services has a 12 month low of $55.01 and a 12 month high of $74.33. The company has a market cap of $24.32 billion, a P/E ratio of 11.27 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last announced 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. Equities research analysts expect that Discover Financial Services will post $5.92 EPS for the current year.

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

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 transaction of $74,981.68. Following the completion of the transaction, the senior vice president now owns 13,085 shares in the company, valued at $798,970.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Carlos Minetti sold 8,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00. Following the transaction, the executive vice president now owns 197,149 shares of the company’s stock, valued at approximately $12,083,262.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on DFS. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company began coverage on shares of Discover Financial Services in a report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price objective on the stock. Buckingham Research began coverage on shares of Discover Financial Services in a report on Monday, October 2nd. They set a “buy” rating and a $74.00 price objective on the stock. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Morgan Stanley dropped their price objective on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.58.

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 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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