ETF Managers Group LLC Cuts Holdings in Discover Financial Services (DFS)

ETF Managers Group LLC lowered its position in Discover Financial Services (NYSE:DFS) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,890 shares of the financial services provider’s stock after selling 10,632 shares during the quarter. ETF Managers Group LLC owned approximately 0.07% of Discover Financial Services worth $14,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DFS. Man Group plc lifted its position in Discover Financial Services by 95.8% in the third quarter. Man Group plc now owns 953,485 shares of the financial services provider’s stock valued at $72,894,000 after purchasing an additional 466,429 shares during the last quarter. Capital World Investors lifted its position in Discover Financial Services by 2.8% in the third quarter. Capital World Investors now owns 14,395,380 shares of the financial services provider’s stock valued at $1,100,527,000 after purchasing an additional 393,987 shares during the last quarter. Bank of Montreal Can lifted its position in Discover Financial Services by 15.5% in the fourth quarter. Bank of Montreal Can now owns 2,673,874 shares of the financial services provider’s stock valued at $157,705,000 after purchasing an additional 357,962 shares during the last quarter. First Trust Advisors LP lifted its position in Discover Financial Services by 100.7% in the third quarter. First Trust Advisors LP now owns 675,232 shares of the financial services provider’s stock valued at $51,621,000 after purchasing an additional 338,811 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its position in Discover Financial Services by 1,601.8% in the third quarter. WINTON GROUP Ltd now owns 356,329 shares of the financial services provider’s stock valued at $27,241,000 after purchasing an additional 335,391 shares during the last quarter. 85.90% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services stock opened at $69.18 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.08 and a debt-to-equity ratio of 2.58. The company has a market cap of $23.22 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.60. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $81.34.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, January 24th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.06). The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a net margin of 21.25% and a return on equity of 25.87%. Discover Financial Services’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 EPS. On average, equities analysts predict that Discover Financial Services will post 8.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.31%. Discover Financial Services’s dividend payout ratio is presently 20.54%.

Several brokerages have weighed in on DFS. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. ValuEngine upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Citigroup lowered their price objective on Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Wells Fargo & Co lowered their price objective on Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. Finally, BMO Capital Markets lowered their price objective on Discover Financial Services to $85.00 and set a “market perform” rating for the company in a research report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $81.57.

In related news, insider David W. Nelms sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $67.94, for a total transaction of $4,076,400.00. Following the completion of the transaction, the insider now owns 1,060,191 shares in the company, valued at $72,029,376.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Roger C. Hochschild bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The shares were acquired at an average price of $66.67 per share, with a total value of $2,000,100.00. Following the acquisition, the chief executive officer now owns 834,457 shares of the company’s stock, valued at $55,633,248.19. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 106,012 shares of company stock valued at $7,340,423. 0.81% of the stock is owned by corporate insiders.

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About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. 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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