Discover Financial Services (DFS) Position Raised by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. increased its stake in shares of Discover Financial Services (NYSE:DFS) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307,311 shares of the financial services provider’s stock after buying an additional 25,900 shares during the period. Pictet Asset Management Ltd. owned approximately 0.08% of Discover Financial Services worth $21,017,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB increased its stake in Discover Financial Services by 3.4% in the first quarter. Xact Kapitalforvaltning AB now owns 79,637 shares of the financial services provider’s stock valued at $5,446,000 after buying an additional 2,629 shares during the last quarter. Dorsey Wright & Associates bought a new stake in Discover Financial Services during the first quarter valued at approximately $1,548,000. Elkfork Partners LLC increased its stake in Discover Financial Services by 49.4% in the first quarter. Elkfork Partners LLC now owns 215,336 shares of the financial services provider’s stock valued at $14,727,000 after buying an additional 71,236 shares during the last quarter. Maple Capital Management Inc. increased its stake in Discover Financial Services by 14.6% in the first quarter. Maple Capital Management Inc. now owns 82,735 shares of the financial services provider’s stock valued at $5,658,000 after buying an additional 10,525 shares during the last quarter. Finally, Princeton Alpha Management LP increased its stake in Discover Financial Services by 73.0% in the first quarter. Princeton Alpha Management LP now owns 10,069 shares of the financial services provider’s stock valued at $689,000 after buying an additional 4,248 shares during the last quarter. 85.54% of the stock is owned by institutional investors.

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

Shares of Discover Financial Services (NYSE:DFS) traded up 2.33% during trading on Friday, hitting $60.66. The stock had a trading volume of 2,623,583 shares. The company has a market capitalization of $23.06 billion, a PE ratio of 10.36 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 firm has a 50-day moving average price of $63.84 and a 200 day moving average price of $67.65.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Discover Financial Services had a return on equity of 21.66% and a net margin of 22.54%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the business posted $1.35 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Discover Financial Services will post $6.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, May 9th. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.76%.

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Several equities research analysts have recently commented on the company. Wells Fargo & Co downgraded Discover Financial Services to a “buy” rating in a report on Friday. Royal Bank of Canada restated a “buy” rating and issued a $82.00 price target on shares of Discover Financial Services in a research note on Tuesday. Keefe, Bruyette & Woods restated a “buy” rating on shares of Discover Financial Services in a research note on Friday, May 12th. Jefferies Group LLC restated a “buy” rating and issued a $82.00 price target on shares of Discover Financial Services in a research note on Friday, May 12th. Finally, Deutsche Bank AG cut Discover Financial Services from a “buy” rating to a “hold” rating and dropped their price target for the company from $87.00 to $71.00 in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.85.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $62.18, for a total value of $1,865,400.00. Following the completion of the sale, the chief executive officer now owns 1,674,732 shares in the company, valued at approximately $104,134,835.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO R. Mark Graf sold 29,584 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $64.50, for a total value of $1,908,168.00. Following the completion of the sale, the chief financial officer now owns 98,905 shares of the company’s stock, valued at approximately $6,379,372.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,342 shares of company stock valued at $7,344,016. Company 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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

5 Day Chart for NYSE:DFS

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