GM Advisory Group Inc. Buys 5,205 Shares of Discover Financial Services (NYSE:DFS)

GM Advisory Group Inc. raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 41.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,757 shares of the financial services provider’s stock after purchasing an additional 5,205 shares during the period. GM Advisory Group Inc.’s holdings in Discover Financial Services were worth $889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bartlett & Co. LLC purchased a new stake in Discover Financial Services in the first quarter worth approximately $27,000. Beese Fulmer Investment Management Inc. purchased a new stake in Discover Financial Services in the second quarter worth approximately $38,000. Ameritas Investment Company LLC bought a new position in Discover Financial Services in the first quarter worth approximately $42,000. South Dakota Investment Council bought a new position in Discover Financial Services in the first quarter worth approximately $45,000. Finally, Bedel Financial Consulting Inc. raised its position in Discover Financial Services by 53.9% in the second quarter. Bedel Financial Consulting Inc. now owns 914 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 320 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

In other Discover Financial Services news, Director Mary K. Bush sold 1,920 shares of Discover Financial Services stock in a transaction on Friday, July 31st. The shares were sold at an average price of $49.23, for a total value of $94,521.60. Following the sale, the director now directly owns 55,899 shares in the company, valued at approximately $2,751,907.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

DFS has been the topic of several recent research reports. Credit Suisse Group reiterated a “buy” rating on shares of Discover Financial Services in a research report on Monday, May 18th. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating and set a $54.00 price target on the stock. in a research report on Tuesday, July 28th. BMO Capital Markets increased their price target on shares of Discover Financial Services from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Stephens increased their price target on shares of Discover Financial Services from $42.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Co increased their price target on shares of Discover Financial Services from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $62.50.

NYSE DFS traded up $1.74 on Thursday, reaching $55.42. The company had a trading volume of 1,826,500 shares, compared to its average volume of 4,317,526. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock has a market capitalization of $16.23 billion, a PE ratio of 17.54 and a beta of 1.88. The firm’s 50 day moving average price is $51.33 and its 200 day moving average price is $48.78. Discover Financial Services has a 12 month low of $23.25 and a 12 month high of $87.43.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.25). The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.63 billion. Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. On average, research analysts expect that Discover Financial Services will post 1.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a yield of 3.18%. Discover Financial Services’s dividend payout ratio is currently 19.38%.

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

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