Discover Financial Services (NYSE:DFS) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,438 shares of the financial services provider’s stock after selling 44,500 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Discover Financial Services were worth $18,057,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DFS. Capital Research Global Investors acquired a new stake in shares of Discover Financial Services during the 2nd quarter worth $495,973,000. Norges Bank purchased a new position in shares of Discover Financial Services in the 4th quarter worth about $340,672,000. Boston Partners raised its holdings in shares of Discover Financial Services by 56.5% in the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock worth $743,663,000 after purchasing an additional 3,102,119 shares during the period. First Trust Advisors LP lifted its stake in shares of Discover Financial Services by 489.5% in the 1st quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after purchasing an additional 1,660,180 shares in the last quarter. Finally, Morgan Stanley increased its position in Discover Financial Services by 35.6% during the 4th quarter. Morgan Stanley now owns 4,927,342 shares of the financial services provider’s stock worth $482,042,000 after purchasing an additional 1,293,260 shares in the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DFS has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a research report on Wednesday, February 21st. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $133.00 in a research report on Thursday, February 8th. HSBC downgraded Discover Financial Services from a “buy” rating to a “hold” rating and decreased their target price for the stock from $121.00 to $107.00 in a research report on Friday, January 19th. Finally, Bank of America upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the company from $94.00 to $116.00 in a report on Wednesday, December 6th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $119.78.

Check Out Our Latest Report on Discover Financial Services

Insiders Place Their Bets

In other news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $121.52 on Friday. The business has a 50 day simple moving average of $111.37 and a 200 day simple moving average of $98.27. The firm has a market capitalization of $30.45 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $127.34.

Discover Financial Services (NYSE:DFSGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm posted $3.77 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Discover Financial Services will post 11.19 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.80 annualized dividend and a dividend yield of 2.30%. Discover Financial Services’s dividend payout ratio (DPR) is 24.89%.

Discover Financial Services Company Profile

(Free Report)

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.

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

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