State of New Jersey Common Pension Fund D grew its holdings in Discover Financial Services (NYSE:DFS) by 71.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 360,000 shares of the financial services provider’s stock after buying an additional 150,500 shares during the period. State of New Jersey Common Pension Fund D owned 0.11% of Discover Financial Services worth $27,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DFS. Icon Wealth Partners LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at about $26,000. Weaver Consulting Group acquired a new stake in shares of Discover Financial Services in the first quarter valued at about $28,000. Pinnacle Bank acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $32,000. IMA Wealth Inc. increased 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 purchasing an additional 420 shares during the last quarter. Finally, Essex Savings Bank increased its position in Discover Financial Services by 66.7% during the first quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.

DFS stock traded down $0.59 during mid-day trading on Tuesday, hitting $91.18. 95,594 shares of the company were exchanged, compared to its average volume of 2,026,020. The company has a quick ratio of 1.38, a current ratio of 1.08 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.36 and a beta of 1.54. The firm’s fifty day simple moving average is $80.94. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $92.98.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.21. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.41%. Discover Financial Services’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. As a group, equities analysts expect that Discover Financial Services will post 9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.93%. The ex-dividend date is Wednesday, August 21st. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s dividend payout ratio (DPR) is 20.54%.

In other news, Director Mary K. Bush sold 496 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total value of $38,454.88. Following the completion of the transaction, the director now owns 53,564 shares of the company’s stock, valued at $4,152,816.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO R. Mark Graf sold 4,776 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $92.44, for a total transaction of $441,493.44. Following the completion of the transaction, the chief financial officer now directly owns 51,296 shares of the company’s stock, valued at approximately $4,741,802.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,151 shares of company stock valued at $2,651,896. 0.81% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on DFS shares. Oppenheimer raised their price objective on shares of Itron from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Morgan Stanley cut their price objective on shares of Lionsgate from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Zacks Investment Research cut shares of Home Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Deutsche Bank restated a “buy” rating and set a $80.00 price objective on shares of Bayerische Motoren Werke in a research report on Monday, July 8th. Finally, JMP Securities raised their price objective on shares of Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $84.12.

Discover Financial Services Profile

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

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