Mackenzie Financial Corp lifted its position in shares of Discover Financial Services (NYSE:DFS – Get Rating) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,403 shares of the financial services provider’s stock after buying an additional 2,507 shares during the quarter. Mackenzie Financial Corp’s holdings in Discover Financial Services were worth $3,821,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vision Capital Management Inc. increased its position in shares of Discover Financial Services by 1.7% during the second quarter. Vision Capital Management Inc. now owns 90,288 shares of the financial services provider’s stock worth $8,539,000 after buying an additional 1,548 shares during the period. Cerity Partners LLC grew its holdings in Discover Financial Services by 762.3% in the second quarter. Cerity Partners LLC now owns 295,759 shares of the financial services provider’s stock worth $27,972,000 after purchasing an additional 261,460 shares during the period. Glenview Trust Co grew its holdings in Discover Financial Services by 5.1% in the second quarter. Glenview Trust Co now owns 14,002 shares of the financial services provider’s stock worth $1,324,000 after purchasing an additional 675 shares during the period. Qtron Investments LLC grew its holdings in Discover Financial Services by 22.6% in the second quarter. Qtron Investments LLC now owns 7,540 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 1,391 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Discover Financial Services in the second quarter worth $494,000. 83.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DFS has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Discover Financial Services in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens raised their price target on shares of Discover Financial Services to $107.00 in a report on Tuesday, September 20th. Citigroup dropped their price objective on shares of Discover Financial Services from $115.00 to $103.00 and set a “neutral” rating on the stock in a research note on Thursday, October 13th. Barclays dropped their price objective on shares of Discover Financial Services from $133.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Finally, Credit Suisse Group raised their price objective on shares of Discover Financial Services from $123.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $118.08.
Discover Financial Services Stock Up 0.2 %
Discover Financial Services (NYSE:DFS – Get Rating) last announced its quarterly earnings data on Monday, October 24th. The financial services provider reported $3.54 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.18). The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.40 billion. Discover Financial Services had a return on equity of 34.94% and a net margin of 31.90%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 EPS. Research analysts expect that Discover Financial Services will post 15.32 earnings per share for the current fiscal year.
Discover Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 2.24%. Discover Financial Services’s dividend payout ratio is currently 15.63%.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.
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