Wells Fargo & Company MN decreased its position in shares of Discover Financial Services (NYSE:DFS) by 35.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,212,628 shares of the financial services provider’s stock after selling 653,817 shares during the quarter. Wells Fargo & Company MN owned approximately 0.33% of Discover Financial Services worth $78,189,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of DFS. Rational Advisors LLC acquired a new stake in Discover Financial Services during the 3rd quarter worth $123,000. Capstone Investment Advisors Netherlands B.V. bought a new position in Discover Financial Services during the 2nd quarter worth about $157,000. San Francisco Sentry Investment Group CA bought a new position in Discover Financial Services during the 2nd quarter worth about $170,000. Sun Life Financial INC grew its holdings in shares of Discover Financial Services by 19,871.4% in the 2nd quarter. Sun Life Financial INC now owns 2,796 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Discover Financial Services by 8.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 229 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
Discover Financial Services (NYSE:DFS) traded down $0.24 during midday trading on Thursday, hitting $72.94. 2,309,500 shares of the stock were exchanged, compared to its average volume of 2,646,307. 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 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.
In other news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.87, for a total value of $989,786.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.55, for a total transaction of $1,936,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,277 shares of company stock valued at $12,335,343. 0.96% of the stock is owned by company insiders.
A number of equities analysts recently commented on DFS shares. Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley reduced their price target on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, September 8th. BMO Capital Markets reduced their price target on Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a report on Wednesday, October 25th. Bank of America lifted their price target on Discover Financial Services from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $86.00 price target on shares of Discover Financial Services in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $74.45.
About Discover Financial Services
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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