Discover Financial Services (DFS) Holdings Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Discover Financial Services (NYSE:DFS) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,094 shares of the financial services provider’s stock after selling 7,681 shares during the period. Public Employees Retirement System of Ohio’s holdings in Discover Financial Services were worth $10,194,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. GM Advisory Group Inc. lifted its position in shares of Discover Financial Services by 0.3% in the 2nd quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 17 shares in the last quarter. South State Corp lifted its position in Discover Financial Services by 0.7% in the 2nd quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock worth $215,000 after buying an additional 25 shares in the last quarter. M&R Capital Management Inc. lifted its position in Discover Financial Services by 1.1% in the 2nd quarter. M&R Capital Management Inc. now owns 6,595 shares of the financial services provider’s stock worth $393,000 after buying an additional 70 shares in the last quarter. Mariner Wealth Advisors LLC lifted its position in Discover Financial Services by 1.8% in the 2nd quarter. Mariner Wealth Advisors LLC now owns 5,245 shares of the financial services provider’s stock worth $326,000 after buying an additional 93 shares in the last quarter. Finally, Commerce Bank lifted its position in Discover Financial Services by 0.5% in the 2nd quarter. Commerce Bank now owns 18,103 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.

Discover Financial Services (NYSE:DFS) opened at $75.95 on Wednesday. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $76.88. 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 stock has a market cap of $27,602.39, a price-to-earnings ratio of 13.05, a P/E/G ratio of 2.00 and a beta of 1.53.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.84%. Discover Financial Services’s payout ratio is presently 24.05%.

In other Discover Financial Services news, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the executive vice president now directly owns 160,747 shares of the company’s stock, valued at approximately $11,310,158.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.54, for a total transaction of $1,076,299.32. Following the completion of the sale, the chief operating officer now directly owns 751,682 shares of the company’s stock, valued at $53,023,648.28. The disclosure for this sale can be found here. Insiders sold a total of 183,277 shares of company stock worth $12,335,343 over the last quarter. 0.96% of the stock is currently owned by company insiders.

DFS has been the topic of several analyst reports. Nomura dropped their price target on shares of Discover Financial Services from $81.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Oppenheimer set a $71.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Buckingham Research initiated coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They set a “buy” rating and a $74.00 price target on the stock. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Royal Bank of Canada restated a “buy” rating and set a $86.00 price target on shares of Discover Financial Services in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $77.00.

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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.

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

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