AQR Capital Management LLC increased its position in shares of Discover Financial Services (NYSE:DFS) by 151.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,080,467 shares of the financial services provider’s stock after buying an additional 1,251,827 shares during the quarter. AQR Capital Management LLC owned about 0.65% of Discover Financial Services worth $161,424,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DFS. Icon Wealth Partners LLC acquired a new position in Discover Financial Services during the first quarter worth about $26,000. Virtus ETF Advisers LLC acquired a new stake in shares of Discover Financial Services in the second quarter valued at approximately $27,000. Weaver Consulting Group acquired a new stake in Discover Financial Services during the first quarter worth approximately $28,000. IMA Wealth Inc. boosted its position in Discover Financial Services by 1,448.3% during the first quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 420 shares during the last quarter. Finally, Semmax Financial Advisors Inc. boosted its position in Discover Financial Services by 75.6% during the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 180 shares during the last quarter. 85.01% of the stock is currently owned by institutional investors.
Shares of NYSE DFS traded up $0.86 during midday trading on Friday, reaching $77.36. The company’s stock had a trading volume of 1,912,502 shares, compared to its average volume of 1,745,656. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The company has a market cap of $24.62 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61. Discover Financial Services has a one year low of $54.36 and a one year high of $92.98. The company has a 50 day moving average price of $80.59 and a 200 day moving average price of $79.55.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. Discover Financial Services’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share. Research analysts anticipate that Discover Financial Services will post 9 earnings per share for the current fiscal year.
DFS has been the topic of a number of analyst reports. Nomura raised their target price on shares of Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group increased their price target on shares of Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Morgan Stanley set a $97.00 price target on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, August 9th. ValuEngine downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.53.
In other Discover Financial Services news, SVP Edward W. Mcgrogan sold 1,894 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $92.35, for a total transaction of $174,910.90. Following the transaction, the senior vice president now directly owns 11,272 shares in the company, valued at approximately $1,040,969.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary K. Bush sold 993 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total transaction of $82,687.11. Following the completion of the sale, the director now owns 52,075 shares in the company, valued at $4,336,285.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,663 shares of company stock worth $2,534,291. 0.81% of the stock is owned by insiders.
About Discover Financial Services
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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