Bluefin Capital Management LLC Sells 1,170 Shares of Discover Financial Services (NYSE:DFS)

Bluefin Capital Management LLC lowered its stake in Discover Financial Services (NYSE:DFS) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the financial services provider’s stock after selling 1,170 shares during the quarter. Bluefin Capital Management LLC’s holdings in Discover Financial Services were worth $446,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Dai Ichi Life Insurance Company Ltd increased its stake in shares of Discover Financial Services by 742.0% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 28,545 shares of the financial services provider’s stock valued at $2,711,000 after acquiring an additional 25,155 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Discover Financial Services by 4.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 287,054 shares of the financial services provider’s stock valued at $27,106,000 after acquiring an additional 13,144 shares in the last quarter. Palladium Partners LLC increased its stake in shares of Discover Financial Services by 0.8% in the 1st quarter. Palladium Partners LLC now owns 245,863 shares of the financial services provider’s stock valued at $23,355,000 after acquiring an additional 2,008 shares in the last quarter. Camelot Portfolios LLC grew its position in Discover Financial Services by 15.5% in the 1st quarter. Camelot Portfolios LLC now owns 28,254 shares of the financial services provider’s stock valued at $2,684,000 after purchasing an additional 3,800 shares during the period. Finally, Wealthfront Advisers LLC grew its position in Discover Financial Services by 8.0% in the 1st quarter. Wealthfront Advisers LLC now owns 25,452 shares of the financial services provider’s stock valued at $2,418,000 after purchasing an additional 1,896 shares during the period. Institutional investors own 84.58% of the company’s stock.

In related news, EVP Diane E. Offereins sold 15,000 shares of the business’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $114.02, for a total value of $1,710,300.00. Following the sale, the executive vice president now directly owns 113,915 shares in the company, valued at approximately $12,988,588.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Moskow sold 3,824 shares of the company’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $115.97, for a total value of $443,469.28. Following the sale, the director now owns 51,253 shares in the company, valued at $5,943,810.41. The disclosure for this sale can be found here. Insiders sold a total of 28,794 shares of company stock worth $3,213,580 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Several analysts recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target on shares of Discover Financial Services in a research report on Monday, April 26th. Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a research report on Wednesday, July 7th. Credit Suisse Group lifted their price target on shares of Discover Financial Services from $128.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, July 2nd. Citigroup raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, July 12th. Finally, Morgan Stanley lifted their price objective on shares of Discover Financial Services from $108.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, April 22nd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Discover Financial Services currently has an average rating of “Buy” and an average price target of $113.39.

Shares of NYSE DFS traded down $1.47 during mid-day trading on Thursday, reaching $124.08. 24,039 shares of the company’s stock were exchanged, compared to its average volume of 1,842,154. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 0.16 and a beta of 1.83. Discover Financial Services has a 52 week low of $48.18 and a 52 week high of $127.65. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $119.52.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 20th. The financial services provider reported $5.55 EPS for the quarter, topping the Zacks’ consensus estimate of $3.68 by $1.87. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Discover Financial Services had a return on equity of 28.88% and a net margin of 22.20%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.20) EPS. On average, analysts expect that Discover Financial Services will post 13.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 2nd. Investors of record on Thursday, August 19th will be paid a $0.50 dividend. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. Discover Financial Services’s payout ratio is currently 48.89%.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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

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