Chevy Chase Trust Holdings Inc. Has $22.14 Million Position in Discover Financial Services (NYSE:DFS)

Chevy Chase Trust Holdings Inc. trimmed its position in shares of Discover Financial Services (NYSE:DFS) by 14.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 343,321 shares of the financial services provider’s stock after selling 56,842 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Discover Financial Services worth $22,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GM Advisory Group Inc. lifted its position in shares of Discover Financial Services by 0.3% in the second quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 17 shares in the last quarter. South State Corp increased its stake in Discover Financial Services by 0.7% during the second quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 25 shares during the last quarter. New Amsterdam Partners LLC NY grew its stake in shares of Discover Financial Services by 1.2% in the second quarter. New Amsterdam Partners LLC NY now owns 5,043 shares of the financial services provider’s stock valued at $314,000 after buying an additional 60 shares in the last quarter. M&R Capital Management Inc. grew its stake in shares of Discover Financial Services by 1.1% in the second quarter. M&R Capital Management Inc. now owns 6,595 shares of the financial services provider’s stock valued at $393,000 after buying an additional 70 shares in the last quarter. Finally, Mariner Wealth Advisors LLC grew its stake in shares of Discover Financial Services by 1.8% in the second quarter. Mariner Wealth Advisors LLC now owns 5,245 shares of the financial services provider’s stock valued at $326,000 after buying an additional 93 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.

DFS has been the subject of a number of recent research reports. Barclays set a $73.00 target price on Discover Financial Services and gave the company a “hold” rating in a research note on Wednesday, October 25th. ValuEngine upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Oppenheimer set a $71.00 target price on Discover Financial Services and gave the company a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, Compass Point lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $78.50.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $70.54, for a total transaction of $1,076,299.32. Following the transaction, the chief operating officer now owns 751,682 shares of the company’s stock, valued at approximately $53,023,648.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the executive vice president now directly owns 160,747 shares in the company, valued at approximately $11,310,158.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,019 shares of company stock worth $8,892,976. 0.96% of the stock is currently owned by company insiders.

Discover Financial Services (DFS) traded down $0.01 during trading hours on Tuesday, reaching $76.91. The company’s stock had a trading volume of 2,899,537 shares, compared to its average volume of 2,250,000. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $77.79. The company has a market cap of $27,950.00, a P/E ratio of 13.24, a PEG ratio of 2.03 and a beta of 1.53.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, November 21st. Discover Financial Services’s dividend payout ratio is presently 24.10%.

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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.

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

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