Man Group plc Buys 134,862 Shares of Discover Financial Services (NYSE:DFS)

Man Group plc boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 975,981 shares of the financial services provider’s stock after acquiring an additional 134,862 shares during the period. Man Group plc owned 0.31% of Discover Financial Services worth $75,726,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Landmark Bank lifted its position in shares of Discover Financial Services by 0.4% in the 2nd quarter. Landmark Bank now owns 32,284 shares of the financial services provider’s stock worth $2,505,000 after purchasing an additional 142 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Discover Financial Services by 1.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 15,472 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 168 shares during the last quarter. Girard Partners LTD. lifted its stake in Discover Financial Services by 5.0% in the second quarter. Girard Partners LTD. now owns 3,548 shares of the financial services provider’s stock valued at $275,000 after buying an additional 169 shares during the last quarter. Semmax Financial Advisors Inc. lifted its stake in Discover Financial Services by 75.6% in the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock valued at $32,000 after buying an additional 180 shares during the last quarter. Finally, SevenBridge Financial Group LLC lifted its stake in Discover Financial Services by 5.7% in the second quarter. SevenBridge Financial Group LLC now owns 3,397 shares of the financial services provider’s stock valued at $264,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

A number of research analysts have recently commented on DFS shares. UBS Group raised their price target on Discover Financial Services from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank reissued a “hold” rating and set a $87.00 price target on shares of Discover Financial Services in a report on Monday, July 8th. Morgan Stanley set a $97.00 price target on Discover Financial Services and gave the company a “buy” rating in a report on Friday, August 9th. Nomura raised their price target on Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.53.

In related news, CFO R. Mark Graf sold 4,776 shares of Discover Financial Services stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $92.44, for a total value of $441,493.44. Following the transaction, the chief financial officer now owns 51,296 shares of the company’s stock, valued at approximately $4,741,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary K. Bush sold 993 shares of Discover Financial Services stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total value of $82,687.11. Following the completion of the transaction, the director now directly owns 52,075 shares in the company, valued at approximately $4,336,285.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,663 shares of company stock worth $2,534,291. 0.81% of the stock is owned by corporate insiders.

NYSE:DFS traded down $0.57 during mid-day trading on Thursday, reaching $83.74. 78,941 shares of the stock were exchanged, compared to its average volume of 1,577,656. The business has a fifty day moving average price of $82.24 and a 200 day moving average price of $78.58. The firm has a market capitalization of $26.60 billion, a PE ratio of 10.75, a PEG ratio of 1.22 and a beta of 1.60. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $92.98. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.21. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.81 billion. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. Discover Financial Services’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share. On average, sell-side analysts forecast that Discover Financial Services will post 9.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.44 per share. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 21st. Discover Financial Services’s payout ratio is presently 22.59%.

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.

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

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