Advisory Services Network LLC Decreases Stock Position in Discover Financial Services (NYSE:DFS)

Advisory Services Network LLC cut its position in Discover Financial Services (NYSE:DFS) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,603 shares of the financial services provider’s stock after selling 312 shares during the period. Advisory Services Network LLC’s holdings in Discover Financial Services were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DFS. Icon Wealth Partners LLC bought a new position in Discover Financial Services in the first quarter valued at $26,000. Pinnacle Bank bought a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $32,000. IMA Wealth Inc. grew its holdings in shares of Discover Financial Services by 1,448.3% during the 1st quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 420 shares during the last quarter. Essex Savings Bank grew its holdings in shares of Discover Financial Services by 66.7% during the 1st quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Finally, Berman Capital Advisors LLC bought a new stake in Discover Financial Services during the 4th quarter worth approximately $37,000. Institutional investors own 84.88% of the company’s stock.

DFS has been the topic of a number of recent analyst reports. CIBC boosted their price target on shares of Stella-Jones from C$51.00 to C$53.00 in a research report on Tuesday, May 7th. Nomura upped their price objective on shares of PROS from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Zacks Investment Research lowered shares of Home Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Oppenheimer upped their target price on shares of Itron from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Goldman Sachs Group upgraded shares of Puxin from a “neutral” rating to a “buy” rating and increased their price target for the company from $51.00 to $56.00 in a research report on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.76.

In other news, Director Michael H. Moskow sold 1,985 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $81.53, for a total transaction of $161,837.05. Following the sale, the director now directly owns 48,042 shares of the company’s stock, valued at approximately $3,916,864.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R. Mark Graf sold 30,741 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $81.92, for a total value of $2,518,302.72. Following the sale, the chief financial officer now directly owns 56,072 shares in the company, valued at $4,593,418.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,369 shares of company stock valued at $3,953,668. 0.81% of the stock is currently owned by corporate insiders.

Shares of DFS traded up $1.61 during trading hours on Thursday, hitting $81.63. The company had a trading volume of 1,564,491 shares, compared to its average volume of 1,942,673. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $82.51. The company’s fifty day moving average is $78.46. The stock has a market capitalization of $25.96 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.54. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.02 by $0.13. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. Discover Financial Services’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. On average, sell-side analysts predict that Discover Financial Services will post 8.77 EPS for the current year.

Discover Financial Services Company 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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