Discover Financial Services (DFS) Position Raised by Pioneer Investment Management Inc., Report finds

Discover Financial Services (DFS) Position Raised by Pioneer Investment Management Inc., Report finds

Pioneer Investment Management Inc. raised its stake in shares of Discover Financial Services (NYSE:DFS) by 27.8% during the third quarter, Holdings Channel reports. The firm owned 812,236 shares of the financial services provider’s stock after buying an additional 176,753 shares during the period. Pioneer Investment Management Inc. owned 0.21% of Discover Financial Services worth $45,931,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the period. LMR Partners LLP boosted its position in Discover Financial Services by 81.1% in the second quarter. LMR Partners LLP now owns 8,580 shares of the financial services provider’s stock valued at $460,000 after buying an additional 3,842 shares during the period. Concert Wealth Management Inc. boosted its position in Discover Financial Services by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 9,089 shares of the financial services provider’s stock valued at $486,000 after buying an additional 703 shares during the period. BP PLC boosted its position in Discover Financial Services by 80.0% in the second quarter. BP PLC now owns 54,000 shares of the financial services provider’s stock valued at $2,894,000 after buying an additional 24,000 shares during the period. Finally, Alley Co LLC boosted its position in Discover Financial Services by 2.7% in the second quarter. Alley Co LLC now owns 33,836 shares of the financial services provider’s stock valued at $1,813,000 after buying an additional 876 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.51% during trading on Wednesday, reaching $68.16. The company’s stock had a trading volume of 2,200,116 shares. The stock has a market cap of $26.51 billion, a P/E ratio of 11.81 and a beta of 1.42. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $74.33. The stock’s 50-day moving average is $70.75 and its 200-day moving average is $62.79.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, February 7th. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.76%.

DFS has been the topic of several recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Discover Financial Services in a report on Thursday, October 13th. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, November 8th. Stephens began coverage on Discover Financial Services in a research report on Friday, November 18th. They issued an “underweight” rating and a $62.00 target price on the stock. JMP Securities lifted their target price on Discover Financial Services from $63.00 to $71.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $78.00 target price (up previously from $72.00) on shares of Discover Financial Services in a research report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.00.

In other news, EVP Julie A. Loeger sold 3,871 shares of Discover Financial Services stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $68.94, for a total value of $266,866.74. Following the transaction, the executive vice president now owns 24,414 shares in the company, valued at $1,683,101.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James V. Panzarino sold 10,000 shares of Discover Financial Services stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the transaction, the executive vice president now owns 84,505 shares in the company, valued at approximately $5,848,591.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,871 shares of company stock valued at $3,019,467. Corporate insiders own 1.07% of the company’s stock.

Discover Financial Services Company 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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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).

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Discover Financial Services (DFS) Position Raised by Pioneer Investment Management Inc.

Discover Financial Services (DFS) Position Raised by Pioneer Investment Management Inc.

Pioneer Investment Management Inc. raised its stake in shares of Discover Financial Services (NYSE:DFS) by 27.8% during the third quarter, Holdings Channel reports. The firm owned 812,236 shares of the financial services provider’s stock after buying an additional 176,753 shares during the period. Pioneer Investment Management Inc. owned 0.21% of Discover Financial Services worth $45,931,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the period. LMR Partners LLP boosted its position in Discover Financial Services by 81.1% in the second quarter. LMR Partners LLP now owns 8,580 shares of the financial services provider’s stock valued at $460,000 after buying an additional 3,842 shares during the period. Concert Wealth Management Inc. boosted its position in Discover Financial Services by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 9,089 shares of the financial services provider’s stock valued at $486,000 after buying an additional 703 shares during the period. BP PLC boosted its position in Discover Financial Services by 80.0% in the second quarter. BP PLC now owns 54,000 shares of the financial services provider’s stock valued at $2,894,000 after buying an additional 24,000 shares during the period. Finally, Alley Co LLC boosted its position in Discover Financial Services by 2.7% in the second quarter. Alley Co LLC now owns 33,836 shares of the financial services provider’s stock valued at $1,813,000 after buying an additional 876 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.51% during trading on Wednesday, reaching $68.16. The company’s stock had a trading volume of 2,200,116 shares. The stock has a market cap of $26.51 billion, a P/E ratio of 11.81 and a beta of 1.42. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $74.33. The stock’s 50-day moving average is $70.75 and its 200-day moving average is $62.79.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, February 7th. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.76%.

DFS has been the topic of several recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Discover Financial Services in a report on Thursday, October 13th. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, November 8th. Stephens began coverage on Discover Financial Services in a research report on Friday, November 18th. They issued an “underweight” rating and a $62.00 target price on the stock. JMP Securities lifted their target price on Discover Financial Services from $63.00 to $71.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $78.00 target price (up previously from $72.00) on shares of Discover Financial Services in a research report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.00.

In other news, EVP Julie A. Loeger sold 3,871 shares of Discover Financial Services stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $68.94, for a total value of $266,866.74. Following the transaction, the executive vice president now owns 24,414 shares in the company, valued at $1,683,101.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James V. Panzarino sold 10,000 shares of Discover Financial Services stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the transaction, the executive vice president now owns 84,505 shares in the company, valued at approximately $5,848,591.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,871 shares of company stock valued at $3,019,467. Corporate insiders own 1.07% of the company’s stock.

Discover Financial Services Company 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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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).

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