Discover Financial Services (NYSE:DFS) Stock Holdings Boosted by CVA Family Office LLC

CVA Family Office LLC raised its position in shares of Discover Financial Services (NYSE:DFS) by 113.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 545 shares of the financial services provider’s stock after purchasing an additional 290 shares during the quarter. CVA Family Office LLC’s holdings in Discover Financial Services were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its position in shares of Discover Financial Services by 155.1% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of Discover Financial Services in the second quarter valued at $28,000. Northern Oak Wealth Management Inc. lifted its holdings in shares of Discover Financial Services by 200.0% in the second quarter. Northern Oak Wealth Management Inc. now owns 300 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of Discover Financial Services by 982.4% in the third quarter. CI Investments Inc. now owns 368 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 334 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Discover Financial Services in the third quarter valued at $34,000. 81.74% of the stock is owned by institutional investors.

Discover Financial Services Stock Down 0.8 %

NYSE DFS opened at $95.48 on Friday. Discover Financial Services has a 52 week low of $87.64 and a 52 week high of $121.17. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 1.31 and a beta of 1.46. The company has a fifty day moving average of $110.18 and a two-hundred day moving average of $103.49. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.19. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.68 billion. Discover Financial Services had a net margin of 28.89% and a return on equity of 33.88%. The firm’s revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.64 earnings per share. On average, analysts predict that Discover Financial Services will post 13.65 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Thursday, February 23rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, February 22nd. Discover Financial Services’s payout ratio is presently 15.49%.

Insider Transactions at Discover Financial Services

In related news, EVP Robert Andrew Eichfeld sold 13,477 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $114.18, for a total value of $1,538,803.86. Following the completion of the transaction, the executive vice president now directly owns 31,509 shares of the company’s stock, valued at approximately $3,597,697.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Discover Financial Services news, EVP Carlos Minetti sold 7,000 shares of the stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $118.00, for a total value of $826,000.00. Following the sale, the executive vice president now owns 114,493 shares of the company’s stock, valued at approximately $13,510,174. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Andrew Eichfeld sold 13,477 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $114.18, for a total value of $1,538,803.86. Following the sale, the executive vice president now directly owns 31,509 shares in the company, valued at approximately $3,597,697.62. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Discover Financial Services from $119.00 to $111.00 and set a “market perform” rating for the company in a report on Friday, January 20th. Citigroup raised their price target on shares of Discover Financial Services from $113.00 to $118.00 in a research note on Tuesday, January 24th. Morgan Stanley lowered shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a report on Wednesday, February 8th. Credit Suisse Group lowered their target price on shares of Discover Financial Services from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Finally, Bank of America raised shares of Discover Financial Services from an “underperform” rating to a “neutral” rating and set a $107.00 price target for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $117.33.

About Discover Financial Services

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Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.