Edge Asset Management Inc buys $157,062,268 stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Edge Asset Management Inc scooped up 501,184 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 2,709,839 shares of Discover Financial Services which is valued at $157,062,268.Discover Financial Services makes up approximately 1.35% of Edge Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc boosted its stake in DFS in the latest quarter, The investment management firm added 65,707 additional shares and now holds a total of 86,139 shares of Discover Financial Services which is valued at $5,000,369. Discover Financial Services makes up approx 0.02% of Victory Capital Management Inc’s portfolio.New Amsterdam Partnersny reduced its stake in DFS by selling 1,267 shares or 18.67% in the most recent quarter. The Hedge Fund company now holds 5,520 shares of DFS which is valued at $310,942. Discover Financial Services makes up approx 0.07% of New Amsterdam Partnersny’s portfolio.Sumitomo Mitsui Asset Management Company Ltd reduced its stake in DFS by selling 23,913 shares or 19.56% in the most recent quarter. The Hedge Fund company now holds 98,334 shares of DFS which is valued at $5,589,305. Discover Financial Services makes up approx 0.16% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Calamos Advisors reduced its stake in DFS by selling 354 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 230,680 shares of DFS which is valued at $13,070,329. Discover Financial Services makes up approx 0.12% of Calamos Advisors’s portfolio.Ls Investment Advisors boosted its stake in DFS in the latest quarter, The investment management firm added 5,424 additional shares and now holds a total of 247,925 shares of Discover Financial Services which is valued at $14,030,076. Discover Financial Services makes up approx 0.94% of Ls Investment Advisors’s portfolio.

Discover Financial Services opened for trading at $57.87 and hit $58.21 on the upside on Wednesday, eventually ending the session at $58.08, with a gain of 0.14% or 0.08 points. The heightened volatility saw the trading volume jump to 17,76,956 shares. Company has a market cap of $23,443 M.

On the company’s financial health, Discover Financial Services reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.40. The company had revenue of $2216.00 million for the quarter, compared to analysts expectations of $2228.30 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Top Pick”, Firm has raised the Price Target to $ 73 from a previous price target of $68 .

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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