GM Advisory Group Inc. Increases Position in Discover Financial Services (DFS)

GM Advisory Group Inc. boosted its stake in Discover Financial Services (NYSE:DFS) by 43.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,633 shares of the financial services provider’s stock after buying an additional 2,329 shares during the period. GM Advisory Group Inc.’s holdings in Discover Financial Services were worth $587,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in DFS. Hotchkis & Wiley Capital Management LLC grew its stake in Discover Financial Services by 84.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,904,200 shares of the financial services provider’s stock valued at $380,703,000 after buying an additional 2,698,700 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Discover Financial Services by 71.9% in the 3rd quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock valued at $127,401,000 after purchasing an additional 826,606 shares during the period. CI Investments Inc. boosted its holdings in Discover Financial Services by 155.6% in the 3rd quarter. CI Investments Inc. now owns 1,208,137 shares of the financial services provider’s stock valued at $77,901,000 after purchasing an additional 735,400 shares during the period. Boston Partners boosted its holdings in Discover Financial Services by 4.6% in the 3rd quarter. Boston Partners now owns 12,187,219 shares of the financial services provider’s stock valued at $785,833,000 after purchasing an additional 538,244 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in Discover Financial Services by 60.7% in the 4th quarter. APG Asset Management N.V. now owns 1,353,532 shares of the financial services provider’s stock valued at $86,704,000 after purchasing an additional 511,200 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

A number of research firms have issued reports on DFS. Morgan Stanley boosted their price objective on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Argus raised shares of Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, January 26th. Instinet cut their price objective on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Oppenheimer boosted their price objective on shares of Discover Financial Services from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays cut their price objective on shares of Discover Financial Services from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Buy” and a consensus target price of $85.61.

In related news, CFO R. Mark Graf sold 22,444 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $79.84, for a total transaction of $1,791,928.96. Following the completion of the transaction, the chief financial officer now directly owns 82,991 shares in the company, valued at approximately $6,626,001.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Daniel Peter Capozzi sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $79.97, for a total transaction of $399,850.00. Following the transaction, the senior vice president now owns 23,977 shares of the company’s stock, valued at $1,917,440.69. The disclosure for this sale can be found here. Over 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.

Discover Financial Services (NYSE DFS) opened at $79.53 on Tuesday. The stock has a market cap of $28,899.66, a P/E ratio of 13.32, a P/E/G ratio of 1.30 and a beta of 1.54. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $81.93. The company has a current ratio of 1.08, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be given 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 of this dividend is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is 25.88%.

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Discover Financial Services Company 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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