Cullinan Associates Inc. Trims Position in Discover Financial Services (DFS)

Cullinan Associates Inc. lowered its holdings in Discover Financial Services (NYSE:DFS) by 46.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,526 shares of the financial services provider’s stock after selling 10,800 shares during the quarter. Cullinan Associates Inc.’s holdings in Discover Financial Services were worth $739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Discover Financial Services by 37.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,487 shares of the financial services provider’s stock worth $1,161,000 after buying an additional 4,467 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Discover Financial Services by 314.4% in the 2nd quarter. BlueMountain Capital Management LLC now owns 4,907 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 3,723 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Discover Financial Services by 6,545.2% in the 2nd quarter. Renaissance Technologies LLC now owns 279,100 shares of the financial services provider’s stock valued at $19,651,000 after purchasing an additional 274,900 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Discover Financial Services by 145.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 73,597 shares of the financial services provider’s stock valued at $5,182,000 after purchasing an additional 43,660 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Discover Financial Services by 7.5% in the 2nd quarter. Bank of America Corp DE now owns 1,844,422 shares of the financial services provider’s stock valued at $129,865,000 after purchasing an additional 129,286 shares in the last quarter. 85.90% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on DFS shares. ValuEngine lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Stephens restated a “hold” rating and issued a $80.00 target price on shares of Discover Financial Services in a research note on Sunday, January 6th. Citigroup cut their target price on shares of Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, November 1st. Finally, Wells Fargo & Co upped their target price on shares of Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Discover Financial Services has an average rating of “Buy” and a consensus price target of $86.17.

In related news, Director Cynthia A. Glassman sold 2,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $69.50, for a total transaction of $139,000.00. Following the sale, the director now owns 54,032 shares in the company, valued at $3,755,224. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David W. Nelms sold 30,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $69.81, for a total transaction of $2,094,300.00. Following the sale, the insider now owns 1,150,798 shares in the company, valued at approximately $80,337,208.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,350 shares of company stock worth $4,985,938. 0.81% of the stock is owned by company insiders.

DFS opened at $62.54 on Friday. The stock has a market cap of $20.87 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.56. Discover Financial Services has a fifty-two week low of $54.36 and a fifty-two week high of $81.93. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.58.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 earnings per share for the quarter, hitting the consensus estimate of $2.05. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.69 billion. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. Sell-side analysts predict that Discover Financial Services will post 7.84 earnings per share for the current fiscal year.

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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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Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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