Sei Investments Co. Acquires 41,663 Shares of Discover Financial Services (DFS)

Sei Investments Co. increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 257,848 shares of the financial services provider’s stock after buying an additional 41,663 shares during the period. Sei Investments Co.’s holdings in Discover Financial Services were worth $19,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DFS. Grove Bank & Trust increased its position in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,490 shares during the last quarter. Rational Advisors LLC purchased a new stake in shares of Discover Financial Services in the 3rd quarter valued at approximately $123,000. Americafirst Capital Management LLC purchased a new stake in shares of Discover Financial Services in the 3rd quarter valued at approximately $140,000. Arbor Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $203,000. Finally, Newman Dignan & Sheerar Inc. purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $217,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on DFS. Instinet dropped their price objective on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Jefferies Group reissued a “buy” rating and issued a $91.00 price objective on shares of Discover Financial Services in a research report on Thursday, January 11th. JPMorgan Chase & Co. dropped their price objective on shares of Discover Financial Services from $82.50 to $82.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, JMP Securities increased their price objective on shares of Discover Financial Services to $91.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Discover Financial Services currently has an average rating of “Buy” and a consensus target price of $85.61.

Shares of Discover Financial Services (DFS) opened at $79.53 on Monday. The firm has a market cap of $28,899.66, a price-to-earnings ratio of 13.32, a P/E/G ratio of 1.30 and a beta of 1.54. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.08. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.93.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is currently 25.88%.

In related news, SVP Daniel Peter Capozzi sold 5,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $79.97, for a total transaction of $399,850.00. Following the completion of the sale, the senior vice president now owns 23,977 shares in the company, valued at approximately $1,917,440.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $81.63, for a total transaction of $198,769.05. Following the sale, the senior vice president now owns 12,033 shares of the company’s stock, valued at approximately $982,253.79. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 55,000 shares of company stock valued at $16,300 and have sold 242,673 shares valued at $18,685,542. 0.96% of the stock is owned by corporate insiders.

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Discover Financial Services Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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