SG Americas Securities LLC Has $1.59 Million Stake in Discover Financial Services (NYSE:DFS)

SG Americas Securities LLC raised its position in Discover Financial Services (NYSE:DFSGet Rating) by 78.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,444 shares of the financial services provider’s stock after purchasing an additional 7,661 shares during the quarter. SG Americas Securities LLC’s holdings in Discover Financial Services were worth $1,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DFS. First Trust Advisors LP raised its stake in shares of Discover Financial Services by 489.5% in the 1st quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after purchasing an additional 1,660,180 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Discover Financial Services by 51.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,636,711 shares of the financial services provider’s stock valued at $154,801,000 after acquiring an additional 554,438 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Discover Financial Services by 40.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,198,287 shares of the financial services provider’s stock valued at $113,334,000 after acquiring an additional 344,578 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Discover Financial Services by 37.0% in the 1st quarter. Royal Bank of Canada now owns 1,121,620 shares of the financial services provider’s stock valued at $123,591,000 after acquiring an additional 302,853 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Discover Financial Services by 29.7% in the 2nd quarter. Deutsche Bank AG now owns 1,304,166 shares of the financial services provider’s stock valued at $123,349,000 after acquiring an additional 298,296 shares in the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.

Insider Activity

In other news, Director Michael H. Moskow sold 1,291 shares of Discover Financial Services stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $105.10, for a total value of $135,684.10. Following the completion of the sale, the director now directly owns 51,596 shares in the company, valued at $5,422,739.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DFS. Citigroup decreased their price objective on Discover Financial Services from $115.00 to $103.00 and set a “neutral” rating for the company in a report on Thursday, October 13th. Morgan Stanley decreased their price objective on Discover Financial Services from $116.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, December 1st. Bank of America cut Discover Financial Services from a “buy” rating to an “underperform” rating in a report on Tuesday, December 13th. Credit Suisse Group lifted their price target on Discover Financial Services from $123.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. Finally, Wells Fargo & Company lifted their price target on Discover Financial Services from $103.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, December 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $119.36.

Discover Financial Services Trading Up 1.1 %

Shares of NYSE:DFS opened at $107.20 on Monday. Discover Financial Services has a 12-month low of $87.64 and a 12-month high of $129.12. The stock has a market cap of $29.29 billion, a PE ratio of 6.98, a P/E/G ratio of 1.89 and a beta of 1.41. The business has a 50 day moving average of $103.09 and a 200-day moving average of $101.00. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

Discover Financial Services (NYSE:DFSGet Rating) last issued its quarterly earnings data on Monday, October 24th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.12). Discover Financial Services had a return on equity of 34.94% and a net margin of 31.90%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm earned $3.54 EPS. The company’s revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts forecast that Discover Financial Services will post 15.34 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd were given a $0.60 dividend. The ex-dividend date was Tuesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.24%. Discover Financial Services’s payout ratio is 15.63%.

About Discover Financial Services

(Get Rating)

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.

See Also

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.