Discover Financial Services (DFS) Files Form 4 Insider Selling : David W Nelms Sells 15,000 Shares

Discover Financial Services (DFS): David W Nelms , Chairman & CEO of Discover Financial Services sold 15,000 shares on Jun 1, 2016. The Insider selling transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were sold at $55.96 per share for a total value of $839,356.50 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 2, 2016, Carlos Minetti (EVP) sold 10,000 shares at $56.28 per share price.On May 4, 2016, Edward W Mcgrogan (SVP, Controller & CAO) sold 885 shares at $56.43 per share price.Also, On May 4, 2016, Diane E Offereins (EVP) sold 10,000 shares at $56.41 per share price.On May 4, 2016, David W Nelms (Chairman & CEO) sold 15,000 shares at $56.31 per share price.

Discover Financial Services: On Wednesday, Jun 1, 2016 heightened volatility was witnessed in Discover Financial Services which led to swings in the share price. The shares opened for trading at $56.28 and hit $56.96 on the upside , eventually ending the session at $56.96, with a gain of 0.26% or 0.15 points. The heightened volatility saw the trading volume jump to 29,28,929 shares. The 52-week high of the share price is $59.88 and the company has a market cap of $23,480 M . The 52-week low of the share price is at $42.86.

Discover Financial Services Money Flow Index Chart

Company has been under the radar of several Street Analysts.Discover Financial Services is Downgraded by Macquarie to Neutral. Earlier the firm had a rating of Outperform on the company shares. The Rating was issued on May 11, 2016.Discover Financial Services is Reiterated by Stifel to Buy and the brokerage firm has raised the Price Target to $ 62 from a previous price target of $60 .The Rating was issued on Apr 20, 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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