Quantitative Systematic Strategies LLC Sells 10,596 Shares of Discover Financial Services (NYSE:DFS)

Quantitative Systematic Strategies LLC lessened its stake in Discover Financial Services (NYSE:DFS) by 39.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,086 shares of the financial services provider’s stock after selling 10,596 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Discover Financial Services were worth $929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DFS. First Bank & Trust increased its holdings in shares of Discover Financial Services by 9.5% in the third quarter. First Bank & Trust now owns 1,770 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 154 shares in the last quarter. Birch Capital Management LLC increased its holdings in shares of Discover Financial Services by 2.1% in the third quarter. Birch Capital Management LLC now owns 9,013 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 185 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Discover Financial Services by 0.7% in the third quarter. Chicago Partners Investment Group LLC now owns 26,257 shares of the financial services provider’s stock worth $1,821,000 after acquiring an additional 193 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Discover Financial Services by 14.8% in the second quarter. Parallel Advisors LLC now owns 1,631 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 210 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Discover Financial Services by 1.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,784 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

In other news, EVP Robert Andrew Eichfeld sold 1,519 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $67.77, for a total value of $102,942.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

Several equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on Discover Financial Services from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Piper Sandler increased their price objective on Discover Financial Services from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $54.50 to $70.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. The Goldman Sachs Group increased their price objective on Discover Financial Services from $68.00 to $76.00 in a report on Monday, October 5th. Finally, Royal Bank of Canada increased their price objective on Discover Financial Services from $61.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $68.18.

Shares of NYSE DFS opened at $77.10 on Wednesday. The stock has a 50 day moving average price of $66.16 and a 200 day moving average price of $54.37. Discover Financial Services has a 52 week low of $23.25 and a 52 week high of $87.43. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $23.63 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 11.31 and a beta of 1.79.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $1.63 by $0.82. Discover Financial Services had a return on equity of 11.00% and a net margin of 7.89%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm posted $2.36 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, research analysts forecast that Discover Financial Services will post 2.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.28%. Discover Financial Services’s payout ratio is 19.38%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. It operates in two segments, Direct Banking and Payment Services. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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