Dupont Capital Management Corp Reduces Position in Discover Financial Services (NYSE:DFS)

Dupont Capital Management Corp cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,654 shares of the financial services provider’s stock after selling 617 shares during the quarter. Dupont Capital Management Corp’s holdings in Discover Financial Services were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bartlett & Co. LLC purchased a new stake in Discover Financial Services during the first quarter valued at about $27,000. Ellevest Inc. lifted its holdings in Discover Financial Services by 76.9% during the first quarter. Ellevest Inc. now owns 757 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 329 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in Discover Financial Services during the second quarter valued at about $38,000. Ballast Advisors LLC purchased a new stake in Discover Financial Services during the first quarter valued at about $32,000. Finally, Bedel Financial Consulting Inc. lifted its holdings in Discover Financial Services by 53.9% during the second quarter. Bedel Financial Consulting Inc. now owns 914 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 320 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors and hedge funds.

In other Discover Financial Services news, EVP Robert Andrew Eichfeld purchased 12,650 shares of Discover Financial Services stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $39.50 per share, for a total transaction of $499,675.00. Following the completion of the transaction, the executive vice president now directly owns 33,454 shares of the company’s stock, valued at $1,321,433. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is owned by company insiders.

DFS stock opened at $49.43 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.26 and a debt-to-equity ratio of 2.70. The company’s 50 day moving average is $50.50 and its 200 day moving average is $53.23. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 9.20 and a beta of 1.88. Discover Financial Services has a 1-year low of $23.25 and a 1-year high of $90.72.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.25). Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.63 billion. As a group, sell-side analysts forecast that Discover Financial Services will post 0.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Wednesday, August 19th. Discover Financial Services’s payout ratio is currently 19.38%.

DFS has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Discover Financial Services from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Stephens increased their price target on shares of Discover Financial Services from $42.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. ValuEngine raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Piper Sandler increased their price target on shares of Discover Financial Services from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Finally, Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating and set a $54.00 price target on the stock. in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.93.

Discover Financial Services Company Profile

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.

See Also: Buy-Side Analysts

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

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