New York State Common Retirement Fund lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 758,800 shares of the financial services provider’s stock after selling 25,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Discover Financial Services were worth $53,996,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in Discover Financial Services in the fourth quarter valued at $29,000. Massey Quick Simon & CO. LLC bought a new stake in Discover Financial Services in the fourth quarter valued at $30,000. Pinnacle Bank bought a new stake in Discover Financial Services in the fourth quarter valued at $32,000. Essex Savings Bank increased its stake in Discover Financial Services by 66.7% in the first quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Berman Capital Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter valued at $37,000. Institutional investors own 86.01% of the company’s stock.

In related news, Director Mary K. Bush sold 496 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total transaction of $38,454.88. Following the transaction, the director now directly owns 53,564 shares in the company, valued at $4,152,816.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO R. Mark Graf sold 30,741 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.92, for a total transaction of $2,518,302.72. Following the transaction, the chief financial officer now owns 56,072 shares in the company, valued at $4,593,418.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,169 shares of company stock worth $6,615,921. 0.81% of the stock is owned by corporate insiders.

A number of brokerages have recently issued reports on DFS. Oppenheimer set a $79.00 price objective on shares of Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, April 17th. Bank of America set a $80.00 price objective on shares of Discover Financial Services and gave the company a “buy” rating in a report on Friday, January 25th. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, March 27th. Goldman Sachs Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $56.00 in a report on Friday, May 3rd. Finally, Nomura lifted their price objective on shares of Discover Financial Services from $81.00 to $86.00 and gave the company a “buy” rating in a report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $81.69.

Shares of NYSE DFS opened at $78.45 on Thursday. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $82.51. The stock has a market cap of $25.46 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.64. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.13. Discover Financial Services had a net margin of 20.98% and a return on equity of 26.34%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Discover Financial Services will post 8.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.54%.

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Discover Financial Services 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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