Robecosam AG Boosts Holdings in Discover Financial Services (DFS)

Robecosam AG boosted its position in shares of Discover Financial Services (NYSE:DFS) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,038 shares of the financial services provider’s stock after buying an additional 10,386 shares during the period. Robecosam AG’s holdings in Discover Financial Services were worth $8,860,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. GM Advisory Group Inc. increased its stake in Discover Financial Services by 0.3% during the 2nd quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock worth $330,000 after buying an additional 17 shares in the last quarter. South State Corp increased its stake in Discover Financial Services by 0.7% during 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. Advisor Partners LLC increased its stake in Discover Financial Services by 0.4% during the 2nd quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock worth $445,000 after buying an additional 27 shares in the last quarter. First Bank & Trust increased its stake in Discover Financial Services by 1.4% during the 2nd quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock worth $195,000 after buying an additional 42 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its stake in Discover Financial Services by 2.3% during the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares in the last quarter. Institutional investors own 85.45% of the company’s stock.

Several equities research analysts have commented on DFS shares. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. William Blair reiterated an “outperform” rating on shares of Discover Financial Services in a research note on Tuesday, July 18th. Instinet reiterated a “buy” rating and set a $81.00 price objective (down from $86.00) on shares of Discover Financial Services in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $75.00 price objective (down from $82.00) on shares of Discover Financial Services in a research note on Thursday, July 27th. Finally, BidaskClub lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $73.58.

Discover Financial Services (NYSE:DFS) traded down 1.16% on Thursday, reaching $64.09. The company’s stock had a trading volume of 1,661,050 shares. Discover Financial Services has a 52 week low of $53.91 and a 52 week high of $74.33. The stock has a market capitalization of $23.86 billion, a P/E ratio of 11.06 and a beta of 1.47. The firm has a 50 day moving average price of $61.27 and a 200 day moving average price of $61.77.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that Discover Financial Services will post $5.91 EPS for the current year.

Discover Financial Services announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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In other news, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00. Following the completion of the sale, the executive vice president now directly owns 197,149 shares of the company’s stock, valued at approximately $12,083,262.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.06, for a total transaction of $74,981.68. Following the sale, the senior vice president now directly owns 13,085 shares of the company’s stock, valued at $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,694,424 over the last three months. Corporate insiders own 0.96% of the company’s stock.

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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