Healthcare of Ontario Pension Plan Trust Fund Sells 43,700 Shares of Discover Financial Services (NYSE:DFS)

Healthcare of Ontario Pension Plan Trust Fund reduced its position in Discover Financial Services (NYSE:DFS) by 87.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the financial services provider’s stock after selling 43,700 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Discover Financial Services were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the second quarter valued at $26,000. Y.D. More Investments Ltd grew its stake in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 95 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in Discover Financial Services in the first quarter valued at approximately $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.4 %

DFS stock opened at $142.07 on Wednesday. The firm has a market cap of $35.63 billion, a PE ratio of 16.20, a P/E/G ratio of 0.94 and a beta of 1.41. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $134.35 and a 200 day simple moving average of $129.93.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.54 EPS. Equities research analysts forecast that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DFS shares. StockNews.com began coverage on shares of Discover Financial Services in a research note on Thursday, October 3rd. They issued a “hold” rating for the company. BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $133.88.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.