Envestnet Asset Management Inc. Has $6.59 Million Position in Discover Financial Services (DFS)

Envestnet Asset Management Inc. cut its position in Discover Financial Services (NYSE:DFS) by 25.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,196 shares of the financial services provider’s stock after selling 35,751 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Discover Financial Services were worth $6,590,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DFS. Grove Bank & Trust lifted its holdings in shares of Discover Financial Services by 2,483.3% during the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,490 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Discover Financial Services during the third quarter worth $123,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of Discover Financial Services during the second quarter worth $157,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of Discover Financial Services during the second quarter worth $170,000. Finally, Sun Life Financial INC lifted its holdings in shares of Discover Financial Services by 19,871.4% during the second quarter. Sun Life Financial INC now owns 2,796 shares of the financial services provider’s stock worth $174,000 after buying an additional 2,782 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.87, for a total transaction of $989,786.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $516,080.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,277 shares of company stock worth $12,335,343. Company insiders own 0.96% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised Discover Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Nomura dropped their target price on Discover Financial Services from $81.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Compass Point downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Oppenheimer set a $71.00 price target on Discover Financial Services and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, Bank of America boosted their price target on Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus price target of $75.11.

Shares of Discover Financial Services (NYSE:DFS) opened at $73.80 on Friday. The firm has a market capitalization of $26,690.30, a PE ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.53. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $74.41.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 24.05%.

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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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