Seizert Capital Partners LLC Sells 100,549 Shares of Discover Financial Services (NYSE:DFS)

Seizert Capital Partners LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 27.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 260,674 shares of the financial services provider’s stock after selling 100,549 shares during the quarter. Seizert Capital Partners LLC’s holdings in Discover Financial Services were worth $20,226,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Discover Financial Services by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,271,726 shares of the financial services provider’s stock worth $133,983,000 after purchasing an additional 199,220 shares in the last quarter. Geode Capital Management LLC boosted its stake in Discover Financial Services by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock worth $271,408,000 after purchasing an additional 76,252 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Discover Financial Services in the 1st quarter worth about $841,000. Steinberg Global Asset Management boosted its stake in Discover Financial Services by 2.1% in the 1st quarter. Steinberg Global Asset Management now owns 13,653 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 279 shares in the last quarter. Finally, Meritage Portfolio Management boosted its stake in Discover Financial Services by 92.6% in the 1st quarter. Meritage Portfolio Management now owns 70,837 shares of the financial services provider’s stock worth $5,041,000 after purchasing an additional 34,055 shares in the last quarter. Institutional investors and hedge funds own 85.15% of the company’s stock.

DFS traded down $2.92 during midday trading on Friday, hitting $76.76. 1,397,141 shares of the company traded hands, compared to its average volume of 2,189,764. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $25.39 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.55. The company’s 50-day moving average is $83.52 and its 200 day moving average is $77.20. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98.



Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. On average, sell-side analysts predict that Discover Financial Services will post 9.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.76 annualized dividend and a yield of 2.29%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s dividend payout ratio is currently 22.59%.

A number of equities analysts recently issued reports on DFS shares. Goldman Sachs Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $56.00 in a research note on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on shares of Discover Financial Services from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JMP Securities upgraded shares of Discover Financial Services from an “outperform” rating to a “buy” rating in a research note on Thursday, July 25th. Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a research note on Friday, June 7th. Finally, Bank of America started coverage on shares of Discover Financial Services in a research note on Wednesday, June 19th. They issued a “neutral” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $84.35.

In other Discover Financial Services news, CFO R. Mark Graf sold 4,776 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $92.44, for a total transaction of $441,493.44. Following the transaction, the chief financial officer now owns 51,296 shares in the company, valued at approximately $4,741,802.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,894 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $92.35, for a total transaction of $174,910.90. Following the transaction, the senior vice president now owns 11,272 shares in the company, valued at approximately $1,040,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 27,663 shares of company stock worth $2,534,291 in the last 90 days. Company insiders own 0.81% of the company’s stock.

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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