Assetmark Inc. boosted its stake in Discover Financial Services (NYSE:DFS) by 92.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,987 shares of the financial services provider’s stock after purchasing an additional 14,402 shares during the period. Assetmark Inc.’s holdings in Discover Financial Services were worth $1,934,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Discover Financial Services by 59.2% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,320 shares of the financial services provider’s stock worth $1,375,000 after acquiring an additional 7,930 shares in the last quarter. Bruni J V & Co. Co. lifted its position in shares of Discover Financial Services by 0.9% during the 3rd quarter. Bruni J V & Co. Co. now owns 423,198 shares of the financial services provider’s stock worth $27,288,000 after purchasing an additional 3,636 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Discover Financial Services by 10.1% during the 3rd quarter. Pacer Advisors Inc. now owns 10,020 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 921 shares during the last quarter. Rational Advisors LLC purchased a new stake in shares of Discover Financial Services during the 3rd quarter worth $123,000. Finally, Vaughan David Investments Inc. IL lifted its position in shares of Discover Financial Services by 1.3% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 323,760 shares of the financial services provider’s stock worth $20,876,000 after purchasing an additional 4,025 shares during the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.

In related news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the transaction, the chief executive officer now owns 1,529,912 shares of the company’s stock, valued at $90,417,799.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.51, for a total transaction of $516,080.00. The disclosure for this sale can be found here. Insiders have sold 172,277 shares of company stock worth $11,020,650 in the last three months. Insiders own 0.96% of the company’s stock.

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Shares of Discover Financial Services (DFS) traded down $0.14 during midday trading on Thursday, hitting $65.50. 2,026,200 shares of the company’s stock traded hands, compared to its average volume of 2,645,418. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $74.33. The stock has a market capitalization of $23,852.30, a P/E ratio of 11.28, a PEG ratio of 1.74 and a beta of 1.52. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

Several equities research analysts have recently issued reports on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Morgan Stanley reduced their price target on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, September 8th. BMO Capital Markets reduced their price target on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research report on Wednesday, October 25th. Bank of America Corporation boosted their price target on shares of Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $86.00 price target on shares of Discover Financial Services in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $74.45.

Discover Financial Services 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.

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

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