BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,858 shares of the financial services provider’s stock after selling 4,076 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.09% of Discover Financial Services worth $21,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GM Advisory Group Inc. raised its holdings in Discover Financial Services by 0.3% in the second quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock worth $330,000 after buying an additional 17 shares during the last quarter. South State Corp grew its stake in shares of Discover Financial Services by 0.7% in the second quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 25 shares during the period. Advisor Partners LLC grew its stake in shares of Discover Financial Services by 0.4% in the second quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 27 shares during the period. New Amsterdam Partners LLC NY grew its stake in shares of Discover Financial Services by 1.2% in the second quarter. New Amsterdam Partners LLC NY now owns 5,043 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 60 shares during the period. Finally, M&R Capital Management Inc. grew its stake in shares of Discover Financial Services by 1.1% in the second quarter. M&R Capital Management Inc. now owns 6,595 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 70 shares during the period. 84.99% of the stock is owned by institutional investors.

In other news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $64.87, for a total value of $989,786.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the executive vice president now directly owns 160,747 shares in the company, valued at approximately $11,310,158.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,277 shares of company stock worth $12,335,343. 0.96% of the stock is owned by insiders.

A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Buckingham Research assumed coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They issued a “buy” rating and a $74.00 price target for the company. ValuEngine lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. BMO Capital Markets reduced their price target on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research note on Wednesday, October 25th. Finally, Morgan Stanley reduced their price target on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, September 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $74.45.

Discover Financial Services (DFS) traded down $0.24 during trading on Thursday, reaching $72.94. 2,309,500 shares of the company were exchanged, compared to its average volume of 2,646,307. The stock has a market capitalization of $26,592.19, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.53. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $74.41.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 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 1.92%. The ex-dividend date of this dividend is Tuesday, November 21st. Discover Financial Services’s payout ratio is 24.05%.

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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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