Capital Planning Advisors LLC Grows Holdings in Discover Financial Services (DFS)

Capital Planning Advisors LLC grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,183 shares of the financial services provider’s stock after purchasing an additional 2,973 shares during the period. Capital Planning Advisors LLC’s holdings in Discover Financial Services were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Intrust Bank NA grew its stake in Discover Financial Services by 4.5% during the fourth quarter. Intrust Bank NA now owns 20,366 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 872 shares during the period. Global X Management Co. LLC grew its stake in Discover Financial Services by 86.7% during the fourth quarter. Global X Management Co. LLC now owns 10,685 shares of the financial services provider’s stock worth $822,000 after buying an additional 4,962 shares during the period. Signition LP purchased a new stake in Discover Financial Services during the fourth quarter worth approximately $276,000. Toronto Dominion Bank grew its stake in Discover Financial Services by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 168,223 shares of the financial services provider’s stock worth $12,941,000 after buying an additional 15,595 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Discover Financial Services by 4.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,271,992 shares of the financial services provider’s stock worth $97,843,000 after buying an additional 59,364 shares during the period. Institutional investors own 84.46% of the company’s stock.

A number of research firms have recently commented on DFS. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and set a $86.00 target price on shares of Discover Financial Services in a research report on Wednesday, October 25th. Nomura reduced their target price 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. Oppenheimer set a $71.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Wedbush set a $80.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Buy” and an average price target of $85.61.

In related news, COO Roger C. Hochschild sold 15,258 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.54, for a total value of $1,076,299.32. Following the sale, the chief operating officer now directly owns 751,682 shares of the company’s stock, valued at $53,023,648.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,912 shares in the company, valued at $101,150,126.80. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 55,000 shares of company stock worth $16,300 and sold 242,673 shares worth $18,685,542. Corporate insiders own 0.96% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) opened at $77.61 on Thursday. The stock has a market cap of $27,798.62, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.25 and a beta of 1.54. The company has a quick ratio of 1.55, a current ratio of 1.08 and a debt-to-equity ratio of 2.52. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.93.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.80%. Discover Financial Services’s dividend payout ratio is presently 25.88%.

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Discover Financial Services Profile

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.

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

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