Alps Advisors Inc. Reduces Position in Discover Financial Services (DFS)

Alps Advisors Inc. lessened its position in shares of Discover Financial Services (NYSE:DFS) by 57.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,915 shares of the financial services provider’s stock after selling 5,181 shares during the quarter. Alps Advisors Inc.’s holdings in Discover Financial Services were worth $282,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI grew its stake in Discover Financial Services by 55.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 15,540 shares of the financial services provider’s stock worth $1,118,000 after buying an additional 5,532 shares during the last quarter. ARP Americas LP purchased a new position in Discover Financial Services during the 1st quarter worth approximately $1,395,000. Inverness Counsel LLC NY purchased a new position in Discover Financial Services during the 1st quarter worth approximately $2,892,000. Daiwa Securities Group Inc. grew its stake in Discover Financial Services by 6.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 48,951 shares of the financial services provider’s stock worth $3,521,000 after buying an additional 2,772 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Discover Financial Services by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,279,052 shares of the financial services provider’s stock worth $92,002,000 after buying an additional 7,060 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Discover Financial Services opened at $77.83 on Friday, Marketbeat reports. Discover Financial Services has a twelve month low of $76.11 and a twelve month high of $77.17. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.55. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.94 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.77 by $0.05. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Discover Financial Services had a return on equity of 22.79% and a net margin of 18.43%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. research analysts forecast that Discover Financial Services will post 7.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Thursday, May 24th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. Discover Financial Services’s dividend payout ratio is currently 23.41%.

A number of research analysts recently issued reports on the company. JMP Securities raised their price target on Discover Financial Services to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. BMO Capital Markets dropped their price target on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Oppenheimer set a $82.00 price target on Discover Financial Services and gave the stock a “buy” rating in a research note on Thursday, April 12th. Wells Fargo raised their price target on Discover Financial Services from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, UBS upgraded Discover Financial Services from a “sell” rating to a “neutral” rating and set a $81.93 price target on the stock in a research note on Monday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Buy” and an average target price of $85.43.

In other news, EVP Diane E. Offereins sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $77.27, for a total value of $1,159,050.00. Following the completion of the sale, the executive vice president now directly owns 134,841 shares of the company’s stock, valued at approximately $10,419,164.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger C. Hochschild sold 15,259 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $76.83, for a total value of $1,172,348.97. Following the completion of the sale, the chief operating officer now directly owns 734,878 shares of the company’s stock, valued at $56,460,676.74. The disclosure for this sale can be found here. Insiders sold a total of 161,266 shares of company stock valued at $11,823,080 over the last three months. Insiders own 0.81% of the company’s stock.

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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