First Trust Advisors LP lowered its stake in Discover Financial Services (NYSE:DFS) by 16.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,783 shares of the financial services provider’s stock after selling 51,896 shares during the period. First Trust Advisors LP’s holdings in Discover Financial Services were worth $14,465,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Financial Architects Inc increased its stake in Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,652 shares during the last quarter. Evercore Wealth Management LLC increased its stake in Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock valued at $107,000 after buying an additional 396 shares during the last quarter. Mycio Wealth Partners LLC increased its stake in Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock valued at $110,000 after buying an additional 625 shares during the last quarter. Advisory Services Network LLC increased its stake in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the last quarter. Finally, Seven Eight Capital LLC acquired a new stake in Discover Financial Services during the second quarter valued at approximately $124,000. 83.54% of the stock is owned by institutional investors.

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

Discover Financial Services (NYSE:DFS) traded up 0.13% during trading on Tuesday, hitting $67.84. 1,198,484 shares of the company traded hands. Discover Financial Services has a 52 week low of $42.86 and a 52 week high of $68.88. The stock has a market capitalization of $26.76 billion, a PE ratio of 12.35 and a beta of 1.39. The company’s 50 day moving average is $59.64 and its 200-day moving average is $57.23.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio is currently 21.74%.

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Several equities research analysts have recently commented on the stock. Barclays PLC downgraded shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 7th. Wedbush assumed coverage on shares of Discover Financial Services in a research report on Monday, October 10th. They issued a “neutral” rating and a $63.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Discover Financial Services in a research report on Friday, October 28th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Monday, November 14th. Finally, JMP Securities upped their price objective on shares of Discover Financial Services from $63.00 to $71.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Buy” and a consensus price target of $64.54.

In other Discover Financial Services news, CFO R. Mark Graf sold 25,032 shares of Discover Financial Services stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $56.78, for a total transaction of $1,421,316.96. Following the transaction, the chief financial officer now owns 116,052 shares of the company’s stock, valued at $6,589,432.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Nelms sold 15,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.46, for a total transaction of $846,900.00. Following the transaction, the chief executive officer now directly owns 1,727,268 shares in the company, valued at approximately $97,521,551.28. The disclosure for this sale can be found here. 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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

5 Day Chart for NYSE:DFS

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