Discover Financial Services (DFS) Stake Lifted by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC grew its holdings in Discover Financial Services (NYSE:DFS) by 103.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 210,100 shares of the financial services provider’s stock after acquiring an additional 106,800 shares during the quarter. Alpine Woods Capital Investors LLC owned about 0.06% of Discover Financial Services worth $15,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners increased its holdings in shares of Discover Financial Services by 1.4% in the 1st quarter. Boston Partners now owns 12,368,650 shares of the financial services provider’s stock valued at $889,676,000 after acquiring an additional 168,791 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Discover Financial Services by 6.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,712,071 shares of the financial services provider’s stock valued at $554,729,000 after acquiring an additional 454,282 shares during the last quarter. LSV Asset Management increased its holdings in shares of Discover Financial Services by 0.5% in the 1st quarter. LSV Asset Management now owns 6,935,251 shares of the financial services provider’s stock valued at $498,852,000 after acquiring an additional 37,101 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Discover Financial Services by 4.3% in the 4th quarter. Bessemer Group Inc. now owns 3,836,438 shares of the financial services provider’s stock valued at $295,099,000 after acquiring an additional 159,496 shares during the last quarter. Finally, Eaton Vance Management increased its holdings in shares of Discover Financial Services by 18.6% in the 4th quarter. Eaton Vance Management now owns 2,782,209 shares of the financial services provider’s stock valued at $214,007,000 after acquiring an additional 436,199 shares during the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $78.66, for a total transaction of $2,359,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,390,449 shares of the company’s stock, valued at approximately $109,372,718.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $77.27, for a total value of $1,159,050.00. Following the sale, the executive vice president now directly owns 134,841 shares of the company’s stock, valued at $10,419,164.07. The disclosure for this sale can be found here. Insiders have sold a total of 161,266 shares of company stock valued at $11,823,080 over the last ninety days. 0.81% of the stock is owned by insiders.

Discover Financial Services opened at $77.83 on Friday, MarketBeat.com reports. Discover Financial Services has a twelve month low of $76.11 and a twelve month high of $77.17. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.55. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.94 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.05. Discover Financial Services had a return on equity of 22.79% and a net margin of 18.43%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. research analysts forecast that Discover Financial Services will post 7.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 24th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.80%. Discover Financial Services’s payout ratio is 23.41%.

A number of research analysts have recently commented on the company. JMP Securities increased their price objective on Discover Financial Services to $91.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. BMO Capital Markets dropped their price objective on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Oppenheimer set a $82.00 price objective on Discover Financial Services and gave the company a “buy” rating in a report on Thursday, April 12th. Wells Fargo increased their price objective on Discover Financial Services from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Finally, UBS upgraded Discover Financial Services from a “sell” rating to a “neutral” rating and set a $81.93 price objective on the stock in a report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services has an average rating of “Buy” and an average target price of $85.43.

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.

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

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