Discover Financial Services (DFS) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Discover Financial Services (NYSE:DFS) by 26.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,598 shares of the financial services provider’s stock after buying an additional 5,989 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Discover Financial Services were worth $1,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DFS. Norges Bank acquired a new position in shares of Discover Financial Services during the fourth quarter worth about $258,887,000. State Street Corp increased its position in Discover Financial Services by 6.1% in the fourth quarter. State Street Corp now owns 21,146,396 shares of the financial services provider’s stock worth $1,524,446,000 after buying an additional 1,207,103 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Discover Financial Services by 2,120.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 919,013 shares of the financial services provider’s stock worth $66,239,000 after buying an additional 877,622 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Discover Financial Services during the fourth quarter worth $53,191,000. Finally, Bank of Montreal Can increased its position in Discover Financial Services by 10.6% in the first quarter. Bank of Montreal Can now owns 5,427,026 shares of the financial services provider’s stock worth $371,154,000 after buying an additional 520,197 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

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

Discover Financial Services (NYSE:DFS) traded down 0.29% during mid-day trading on Thursday, hitting $59.03. The company had a trading volume of 2,482,364 shares. The firm has a market capitalization of $22.44 billion, a P/E ratio of 10.08 and a beta of 1.42. The company has a 50-day moving average price of $62.88 and a 200 day moving average price of $67.84. Discover Financial Services has a 12 month low of $50.32 and a 12 month high of $74.33.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a return on equity of 21.66% and a net margin of 22.54%. Discover Financial Services’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. Equities analysts forecast that Discover Financial Services will post $6.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. Discover Financial Services’s payout ratio is 20.76%.

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A number of research analysts have weighed in on DFS shares. JMP Securities increased their target price on Discover Financial Services from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. Wedbush set a $78.00 target price on Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, January 25th. Sandler O’Neill set a $79.00 target price on Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, January 25th. Rafferty Capital Markets reissued a “hold” rating and issued a $70.00 target price on shares of Discover Financial Services in a report on Wednesday, March 29th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Discover Financial Services in a report on Friday, April 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.67.

In related news, EVP James V. Panzarino sold 9,500 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $64.34, for a total value of $611,230.00. Following the completion of the transaction, the executive vice president now owns 78,215 shares of the company’s stock, valued at approximately $5,032,353.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie A. Loeger sold 5,000 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $62.54, for a total value of $312,700.00. Following the completion of the transaction, the executive vice president now directly owns 28,345 shares of the company’s stock, valued at approximately $1,772,696.30. The disclosure for this sale can be found here. Insiders sold a total of 114,342 shares of company stock valued at $7,344,016 in the last ninety days. 1.07% of the stock is currently owned by 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.

12 Month Chart for NYSE:DFS

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