Burney Co Lowers stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Burney Co reduced its stake in Discover Financial Services by 0.77% during the most recent quarter end. The investment management company now holds a total of 439,581 shares of Discover Financial Services which is valued at $24,278,059 after selling 3,419 shares in Discover Financial Services , the firm said in a disclosure report filed with the SEC on May 2, 2016.Discover Financial Services makes up approximately 1.78% of Burney Co’s portfolio.

Discover Financial Services opened for trading at $54.68 and hit $55.315 on the upside on Friday, eventually ending the session at $55.23, with a gain of 0.73% or 0.4 points. The heightened volatility saw the trading volume jump to 25,58,080 shares. Company has a market cap of $22,767 M.

Other Hedge Funds, Including , Hgk Asset Management Inc boosted its stake in DFS in the latest quarter, The investment management firm added 1,550 additional shares and now holds a total of 100,215 shares of Discover Financial Services which is valued at $5,639,098. Discover Financial Services makes up approx 0.54% of Hgk Asset Management Inc’s portfolio. Quantbot Technologies Lp added DFS to its portfolio by purchasing 17,580 company shares during the most recent quarter which is valued at $989,227. Discover Financial Services makes up approx 0.16% of Quantbot Technologies Lp’s portfolio.Boys Arnold Co Inc reduced its stake in DFS by selling 41,046 shares or 70.76% in the most recent quarter. The Hedge Fund company now holds 16,965 shares of DFS which is valued at $954,621. Discover Financial Services makes up approx 0.38% of Boys Arnold Co Inc’s portfolio.Advisory Services Network boosted its stake in DFS in the latest quarter, The investment management firm added 329 additional shares and now holds a total of 1,866 shares of Discover Financial Services which is valued at $105,448. Discover Financial Services makes up approx 0.03% of Advisory Services Network’s portfolio.

On the company’s financial health, Discover Financial Services reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $2224.00 million for the quarter, compared to analysts expectations of $2173.41 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by Stifel on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .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.

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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