Discover Financial Services (DFS) Stake Lowered by Lingohr & Partner Asset Management GmbH

Lingohr & Partner Asset Management GmbH lessened its position in Discover Financial Services (NYSE:DFS) by 57.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,100 shares of the financial services provider’s stock after selling 6,900 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in Discover Financial Services were worth $339,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. V Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the 2nd quarter valued at $101,000. Orrstown Financial Services Inc. boosted its stake in shares of Discover Financial Services by 16.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 286 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Discover Financial Services in the 2nd quarter valued at $168,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of Discover Financial Services in the 2nd quarter valued at $157,000. Finally, Financial Architects Inc boosted its stake in shares of Discover Financial Services by 65.1% in the 2nd quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 88.02% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Discover Financial Services (DFS) Stake Lowered by Lingohr & Partner Asset Management GmbH” was originally published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.themarketsdaily.com/2017/11/13/discover-financial-services-dfs-stake-lowered-by-lingohr-partner-asset-management-gmbh.html.

In other news, EVP Kathryn Mcnamara Corley sold 4,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.63, for a total value of $238,520.00. Following the completion of the sale, the executive vice president now owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Carlos Minetti sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.68, for a total value of $533,440.00. Following the completion of the sale, the executive vice president now directly owns 173,149 shares of the company’s stock, valued at approximately $11,545,575.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,277 shares of company stock valued at $11,020,650. Insiders own 0.96% of the company’s stock.

Several research analysts recently issued reports on DFS shares. Buckingham Research started coverage on shares of Discover Financial Services in a research report 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 report on Tuesday, September 26th. Oppenheimer Holdings, Inc. set a $69.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and set a $75.00 price target (down previously from $82.00) on shares of Discover Financial Services in a research report on Thursday, July 27th. Finally, Nomura reduced 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 report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Discover Financial Services has an average rating of “Hold” and a consensus target price of $74.45.

Discover Financial Services (NYSE DFS) traded down $0.71 during trading hours on Monday, reaching $64.76. The company’s stock had a trading volume of 1,630,800 shares, compared to its average volume of 2,670,307. Discover Financial Services has a 52-week low of $57.50 and a 52-week high of $74.33. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. The firm has a market cap of $23,520.00, a P/E ratio of 11.13, a P/E/G ratio of 1.71 and a beta of 1.51.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 24.10%.

Discover Financial Services announced that its board has approved a stock repurchase plan on Tuesday, July 25th that authorizes the company to repurchase $2.75 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply