Lvm Capital Management Ltdmi Lowers stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Lvm Capital Management Ltdmi reduced its stake in Discover Financial Services by 49.95% during the most recent quarter end. The investment management company now holds a total of 67,050 shares of Discover Financial Services which is valued at $3.4 Million after selling 66,925 shares in Discover Financial Services according to a report filed by the company on Apr 4, 2016 with the SEC.Discover Financial Services makes up approximately 1.08% of Lvm Capital Management Ltdmi’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in DFS by selling 263 shares or 4.79% in the most recent quarter. The Hedge Fund company now holds 5,225 shares of DFS which is valued at $268,513. Discover Financial Services makes up approx 0.06% of Beacon Financial Group’s portfolio.

On the company’s financial health, Discover Financial Services reported $1.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Jan 27, 2016. Analyst had a consensus of $1.30. The company had revenue of $2205.00 million for the quarter, compared to analysts expectations of $2218.61 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Shares were Reiterated by Deutsche Bank on Feb 18, 2016 to “Hold” and Lowered the Price Target to $ 61 from a previous price target of $64 .Discover Financial Services was Downgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016. Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Top Pick” and Lowered the Price Target to $ 68 from a previous price target of $69 .

Discover Financial Services opened for trading at $50.72 and hit $51.11 on the upside on Monday, eventually ending the session at $50.57, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 25,30,360 shares. Company has a market cap of $20,946 M.

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 provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment 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 private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

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