Discover Financial Services (NYSE:DFS) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,636 shares of the financial services provider’s stock after selling 665 shares during the period. Cumberland Partners Ltd’s holdings in Discover Financial Services were worth $2,095,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Discover Financial Services by 5.2% in the third quarter. CWM LLC now owns 9,609 shares of the financial services provider’s stock valued at $832,000 after buying an additional 474 shares in the last quarter. AE Wealth Management LLC grew its stake in Discover Financial Services by 10.6% in the 3rd quarter. AE Wealth Management LLC now owns 12,163 shares of the financial services provider’s stock worth $1,054,000 after acquiring an additional 1,165 shares during the period. RFG Advisory LLC grew its stake in Discover Financial Services by 4.1% in the 3rd quarter. RFG Advisory LLC now owns 6,845 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 271 shares during the period. Everence Capital Management Inc. purchased a new stake in Discover Financial Services in the 3rd quarter worth approximately $500,000. Finally, Ziegler Capital Management LLC boosted its holdings in shares of Discover Financial Services by 61.6% in the 3rd quarter. Ziegler Capital Management LLC now owns 15,392 shares of the financial services provider’s stock valued at $1,333,000 after purchasing an additional 5,869 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Insider Buying and Selling at Discover Financial Services

In related news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the transaction, the chief financial officer now owns 18,592 shares in the company, valued at $1,980,233.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. StockNews.com initiated coverage on shares of Discover Financial Services in a report on Thursday, April 18th. They issued a “hold” rating for the company. Jefferies Financial Group increased their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Finally, Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded up $2.62 during mid-day trading on Tuesday, reaching $129.30. 1,883,250 shares of the company’s stock were exchanged, compared to its average volume of 2,230,380. The firm has a market capitalization of $32.40 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.45. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13. The firm has a 50-day moving average price of $122.76 and a two-hundred day moving average price of $106.72.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the prior year, the company earned $3.58 earnings per share. Analysts predict that Discover Financial Services will post 11.34 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.17%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Discover Financial Services Profile

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.