HM Payson & Co. Acquires 11,137 Shares of Discover Financial Services (DFS)

HM Payson & Co. raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,769 shares of the financial services provider’s stock after buying an additional 11,137 shares during the period. HM Payson & Co.’s holdings in Discover Financial Services were worth $11,597,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. DnB Asset Management AS lifted its position in Discover Financial Services by 1.7% during the fourth quarter. DnB Asset Management AS now owns 40,715 shares of the financial services provider’s stock valued at $3,132,000 after buying an additional 700 shares in the last quarter. Atlantic Trust Group LLC lifted its position in Discover Financial Services by 2.9% during the third quarter. Atlantic Trust Group LLC now owns 26,329 shares of the financial services provider’s stock valued at $1,697,000 after buying an additional 738 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in Discover Financial Services by 1.8% during the third quarter. Piedmont Investment Advisors LLC now owns 44,307 shares of the financial services provider’s stock valued at $2,857,000 after buying an additional 804 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in Discover Financial Services by 9.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 9,425 shares of the financial services provider’s stock valued at $725,000 after buying an additional 813 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in Discover Financial Services by 15.9% during the fourth quarter. Gotham Asset Management LLC now owns 6,308 shares of the financial services provider’s stock valued at $485,000 after buying an additional 864 shares in the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have weighed in on DFS. Credit Suisse Group lifted their price target on shares of Discover Financial Services from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada reduced their price target on shares of Discover Financial Services to $100.00 and set a “top pick” rating on the stock in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Tuesday, January 2nd. Wells Fargo lifted their price target on shares of Discover Financial Services from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, JMP Securities lifted their price objective on shares of Discover Financial Services to $91.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $85.61.

Shares of DFS stock opened at $75.36 on Wednesday. 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 stock has a market cap of $26,975.71, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.12 and a beta of 1.49. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $81.93.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $1.85 billion. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. analysts expect that Discover Financial Services will post 7.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.86%. Discover Financial Services’s dividend payout ratio (DPR) is presently 25.88%.

In related news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $76.78, for a total value of $1,171,509.24. Following the completion of the sale, the chief operating officer now owns 723,666 shares in the company, valued at $55,563,075.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Daniel Peter Capozzi sold 5,000 shares of Discover Financial Services stock in a transaction on Friday, January 26th. The stock was sold at an average price of $79.97, for a total transaction of $399,850.00. Following the completion of the transaction, 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 90 days, insiders purchased 29,000 shares of company stock valued at $8,670 and sold 242,674 shares valued at $19,140,541. 0.81% of the stock is currently owned by insiders.

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Discover Financial Services Company 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.

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

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