Alyeska Investment Group L.P. Purchases New Holdings in Discover Financial Services (DFS)

Alyeska Investment Group L.P. purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 27,261 shares of the financial services provider’s stock, valued at approximately $1,758,000.

Other large investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in Discover Financial Services by 6.5% during the 2nd quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock worth $57,286,000 after purchasing an additional 56,046 shares during the last quarter. Calamos Advisors LLC lifted its holdings in Discover Financial Services by 120.3% during the 2nd quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock worth $39,453,000 after purchasing an additional 346,406 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Discover Financial Services by 23.9% in the 2nd quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after acquiring an additional 3,027 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Discover Financial Services by 97.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock valued at $453,619,000 after acquiring an additional 3,475,126 shares in the last quarter. Finally, NorthCoast Asset Management LLC acquired a new position in Discover Financial Services in the 2nd quarter valued at $1,535,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on DFS. Wedbush set a $80.00 price objective on Discover Financial Services and gave the company a “buy” rating in a report on Monday. Barclays raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $73.00 to $93.00 in a report on Monday. ValuEngine raised Discover Financial Services from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, Buckingham Research began coverage on Discover Financial Services in a report on Monday, October 2nd. They issued a “buy” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $76.26.

In related news, EVP Diane E. Offereins sold 15,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the executive vice president now owns 160,747 shares in the company, valued at approximately $11,310,158.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 183,277 shares of company stock worth $12,335,343 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Shares of Discover Financial Services (DFS) opened at $73.82 on Thursday. The firm has a market capitalization of $27,286.25, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.98 and a beta of 1.53. Discover Financial Services has a 52-week low of $57.50 and a 52-week high of $75.51. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. Discover Financial Services’s dividend payout ratio is currently 24.05%.

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Discover Financial Services 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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