Paloma Partners Management Co increased its position in shares of Discover Financial Services (NYSE:DFS) by 123.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,115 shares of the financial services provider’s stock after buying an additional 33,747 shares during the period. Paloma Partners Management Co’s holdings in Discover Financial Services were worth $4,701,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its stake in shares of Discover Financial Services by 2,483.3% during the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,490 shares during the period. Rational Advisors LLC purchased a new position in shares of Discover Financial Services during the third quarter valued at $123,000. Americafirst Capital Management LLC purchased a new position in shares of Discover Financial Services during the third quarter valued at $140,000. Focused Wealth Management Inc purchased a new position in shares of Discover Financial Services during the fourth quarter valued at $177,000. Finally, Arbor Investment Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.
Shares of Discover Financial Services (DFS) opened at $78.15 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $28,400.00, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.28 and a beta of 1.49. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.93.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is presently 23.53%.
Several brokerages have recently commented on DFS. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Morgan Stanley raised their price target on Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Argus raised Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Friday, January 26th. Instinet dropped their price objective on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Oppenheimer raised their price objective on Discover Financial Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $85.61.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $76.74, for a total value of $2,302,200.00. Following the completion of the sale, the chief executive officer now owns 1,409,912 shares of the company’s stock, valued at $108,196,646.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Daniel Peter Capozzi sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $79.97, for a total value of $399,850.00. Following the completion of the sale, the senior vice president now directly owns 23,977 shares of the company’s stock, valued at approximately $1,917,440.69. The disclosure for this sale can be found here. In the last three months, insiders acquired 39,000 shares of company stock valued at $11,670 and sold 242,674 shares valued at $19,140,541. 0.96% of the stock is currently owned by company insiders.
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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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