The HPM Partners LLC Purchases New Stake in Discover Financial Services (DFS)

The HPM Partners LLC Purchases New Stake in Discover Financial Services (DFS)

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of Discover Financial Services by 6.1% in the fourth quarter. State Street Corp now owns 21,146,396 shares of the financial services provider’s stock valued at $1,524,446,000 after buying an additional 1,207,103 shares during the period. FMR LLC boosted its stake in shares of Discover Financial Services by 3.7% in the fourth quarter. FMR LLC now owns 9,844,614 shares of the financial services provider’s stock valued at $709,698,000 after buying an additional 355,684 shares during the period. LSV Asset Management boosted its stake in shares of Discover Financial Services by 1.3% in the third quarter. LSV Asset Management now owns 7,015,656 shares of the financial services provider’s stock valued at $396,735,000 after buying an additional 90,549 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Discover Financial Services by 10.4% in the third quarter. BlackRock Advisors LLC now owns 5,502,924 shares of the financial services provider’s stock valued at $311,190,000 after buying an additional 516,575 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Discover Financial Services by 10.6% in the first quarter. Bank of Montreal Can now owns 5,427,026 shares of the financial services provider’s stock valued at $371,154,000 after buying an additional 520,197 shares during the period. 85.54% of the stock is owned by institutional investors and hedge funds.

HPM Partners LLC bought a new stake in Discover Financial Services (NYSE:DFS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 76,005 shares of the financial services provider’s stock, valued at approximately $5,198,000.

Shares of Discover Financial Services (NYSE:DFS) opened at 58.91 on Monday. The firm has a market capitalization of $22.40 billion, a P/E ratio of 10.06 and a beta of 1.42. Discover Financial Services has a 52-week low of $50.32 and a 52-week high of $74.33. The company’s 50-day moving average price is $61.62 and its 200-day moving average price is $67.73.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a net margin of 22.54% and a return on equity of 21.66%. Discover Financial Services’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. On average, equities research analysts expect that Discover Financial Services will post $6.02 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.04%. Discover Financial Services’s payout ratio is 20.76%.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a net margin of 22.54% and a return on equity of 21.66%. Discover Financial Services’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. On average, equities research analysts expect that Discover Financial Services will post $6.02 EPS for the current fiscal year. Several brokerages recently issued reports on DFS. Deutsche Bank AG lowered Discover Financial Services from a “buy” rating to a “hold” rating and cut their price objective for the stock from $87.00 to $71.00 in a report on Monday, May 1st. Wells Fargo & Co lowered Discover Financial Services to a “buy” rating and set a $70.00 price objective for the company. in a report on Friday, May 19th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Discover Financial Services in a report on Friday, May 12th. BMO Capital Markets reiterated a “hold” rating and set a $68.00 price objective on shares of Discover Financial Services in a report on Tuesday, April 11th. Finally, ValuEngine lowered Discover Financial Services from a “strong-buy” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $74.40.

In other Discover Financial Services news, CFO R. Mark Graf sold 29,584 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $64.50, for a total value of $1,908,168.00. Following the transaction, the chief financial officer now directly owns 98,905 shares of the company’s stock, valued at approximately $6,379,372.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Roger C. Hochschild sold 10,000 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $67.73, for a total transaction of $677,300.00. Following the completion of the transaction, the chief operating officer now directly owns 798,331 shares in the company, valued at $54,070,958.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,342 shares of company stock worth $7,344,016. 1.07% of the stock is owned by insiders. 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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DFS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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