Latest Stocks: New Mexico Educational Retirement Board Cuts Position in Discover Financial Services (DFS)

Latest Stocks: New Mexico Educational Retirement Board Cuts Position in Discover Financial Services (DFS)

New Mexico Educational Retirement Board lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,061 shares of the financial services provider’s stock after selling 4,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Discover Financial Services were worth $2,671,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at $258,887,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Discover Financial Services during the third quarter valued at $90,103,000. 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 last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Discover Financial Services by 2,120.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 919,013 shares of the financial services provider’s stock valued at $66,239,000 after buying an additional 877,622 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at $53,191,000. 85.54% of the stock is currently owned by institutional investors.

Shares of Discover Financial Services (NYSE DFS) opened at 59.02 on Tuesday. Discover Financial Services has a 1-year low of $50.32 and a 1-year high of $74.33. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 10.08 and a beta of 1.42. The firm’s 50-day moving average is $61.54 and its 200-day moving average is $67.71.

Discover Financial Services (NYSE:DFS) last posted its earnings results 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. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a return on equity of 21.66% and a net margin of 22.54%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. Analysts forecast that Discover Financial Services will post $6.02 earnings per share for the current fiscal year. The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Thursday, May 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, May 9th. Discover Financial Services’s payout ratio is 20.76%.

Discover Financial Services (NYSE:DFS) last posted its earnings results 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. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a return on equity of 21.66% and a net margin of 22.54%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. Analysts forecast that Discover Financial Services will post $6.02 earnings per share for the current fiscal year. Several brokerages have weighed in on DFS. ValuEngine cut shares of Discover Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Friday. BMO Capital Markets reissued a “hold” rating and set a $70.00 price target on shares of Discover Financial Services in a research report on Thursday, June 1st. Wells Fargo & Co reissued an “outperform” rating and set a $70.00 price target (down previously from $80.00) on shares of Discover Financial Services in a research report on Sunday, May 21st. Royal Bank of Canada reissued a “buy” rating and set a $82.00 price target on shares of Discover Financial Services in a research report on Tuesday, May 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Discover Financial Services in a research report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. Discover Financial Services has a consensus rating of “Buy” and a consensus price target of $74.40.

In related news, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $62.28, for a total transaction of $950,268.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Nelms sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $67.93, for a total value of $1,018,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,342 shares of company stock valued at $7,344,016. 1.07% of the stock is owned by company insiders. About Discover Financial Services

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