Candriam Luxembourg S.C.A. lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 9.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 244,761 shares of the financial services provider’s stock after selling 26,033 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Discover Financial Services were worth $18,712,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DFS. State of Alaska Department of Revenue grew its holdings in Discover Financial Services by 8.1% during the second quarter. State of Alaska Department of Revenue now owns 48,331 shares of the financial services provider’s stock valued at $3,402,000 after purchasing an additional 3,625 shares during the period. Manning & Napier Group LLC bought a new stake in Discover Financial Services during the second quarter valued at about $209,000. Fox Run Management L.L.C. bought a new stake in Discover Financial Services during the second quarter valued at about $819,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Discover Financial Services by 68.2% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 31,924 shares of the financial services provider’s stock valued at $2,259,000 after purchasing an additional 12,947 shares during the period. Finally, Calamos Advisors LLC grew its holdings in Discover Financial Services by 4.4% during the second quarter. Calamos Advisors LLC now owns 236,128 shares of the financial services provider’s stock valued at $16,626,000 after purchasing an additional 9,915 shares during the period. 87.68% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services stock opened at $69.94 on Wednesday. Discover Financial Services has a 52 week low of $63.31 and a 52 week high of $81.93. The stock has a market capitalization of $23.30 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.50. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.58.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.05. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.69 billion. On average, equities research analysts anticipate that Discover Financial Services will post 7.83 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. Discover Financial Services’s payout ratio is 26.76%.

Discover Financial Services announced that its board has approved a share repurchase program on Thursday, July 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several analysts have issued reports on DFS shares. Wells Fargo & Co boosted their price target on Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Monday, October 1st. JPMorgan Chase & Co. raised Discover Financial Services from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 2nd. Bank of America boosted their price target on Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 21st. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Sandler O’Neill reissued a “buy” rating and set a $87.00 price target on shares of Discover Financial Services in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $86.80.

In related news, EVP Carlos Minetti sold 3,750 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.21, for a total value of $293,287.50. Following the sale, the executive vice president now directly owns 133,852 shares in the company, valued at $10,468,564.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.11, for a total value of $2,343,300.00. Following the completion of the sale, the chief executive officer now owns 1,210,798 shares in the company, valued at $94,575,431.78. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock worth $7,795,625 over the last 90 days. Company insiders own 0.81% of the company’s stock.

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Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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