Tredje AP fonden trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 7.5% in the 1st quarter, HoldingsChannel reports. The firm owned 23,210 shares of the financial services provider’s stock after selling 1,885 shares during the quarter. Tredje AP fonden’s holdings in Discover Financial Services were worth $828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC increased its holdings in shares of Discover Financial Services by 24.9% in the fourth quarter. Private Advisor Group LLC now owns 7,633 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 1,521 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in Discover Financial Services by 3.4% during the 4th quarter. First Allied Advisory Services Inc. now owns 8,583 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 281 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Discover Financial Services during the 4th quarter worth $610,000. Camden Capital LLC acquired a new stake in Discover Financial Services during the 4th quarter worth $428,000. Finally, Pacer Advisors Inc. grew its holdings in Discover Financial Services by 7.7% during the 4th quarter. Pacer Advisors Inc. now owns 37,699 shares of the financial services provider’s stock worth $3,198,000 after acquiring an additional 2,680 shares during the period. 82.82% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on DFS shares. Imperial Capital reissued an “outperform” rating and issued a $32.00 price target (down previously from $34.00) on shares of Discover Financial Services in a report on Tuesday, March 17th. JMP Securities decreased their price target on shares of Discover Financial Services from $92.00 to $48.00 and set a “market outperform” rating for the company in a report on Monday, April 27th. Deutsche Bank decreased their price target on shares of Discover Financial Services from $72.00 to $55.00 and set a “hold” rating for the company in a report on Friday, April 24th. BMO Capital Markets raised shares of Discover Financial Services from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $55.00 to $52.00 in a report on Thursday, May 14th. Finally, TheStreet cut shares of Discover Financial Services from a “b-” rating to a “c+” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.87.

NYSE:DFS traded down $3.14 on Friday, hitting $48.92. 50,152 shares of the company’s stock were exchanged, compared to its average volume of 6,293,890. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day moving average price of $48.19 and a 200-day moving average price of $59.63. The company has a market cap of $15.56 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 4.31 and a beta of 1.87. Discover Financial Services has a 52 week low of $23.25 and a 52 week high of $92.98.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($2.34). The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. Discover Financial Services had a net margin of 15.39% and a return on equity of 20.38%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 earnings per share. On average, research analysts expect that Discover Financial Services will post 1.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.60%. Discover Financial Services’s payout ratio is 19.38%.

In related news, EVP Robert Andrew Eichfeld acquired 12,650 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $39.50 per share, for a total transaction of $499,675.00. Following the completion of the transaction, the executive vice president now directly owns 33,454 shares of the company’s stock, valued at approximately $1,321,433. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

About Discover Financial Services

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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