Nwq Investment Management Company buys $122.2 Million stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Nwq Investment Management Company scooped up 11,643 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,244,839 shares of Discover Financial Services which is valued at $122.2 Million.Discover Financial Services makes up approximately 1.94% of Nwq Investment Management Company’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in DFS in the latest quarter, The investment management firm added 223,858 additional shares and now holds a total of 5,156,873 shares of Discover Financial Services which is valued at $280.6 Million. Discover Financial Services makes up approx 0.14% of Massachusetts Financial Services Co’s portfolio.Shell Asset Management Co boosted its stake in DFS in the latest quarter, The investment management firm added 30,893 additional shares and now holds a total of 130,582 shares of Discover Financial Services which is valued at $7.1 Million. Discover Financial Services makes up approx 0.17% of Shell Asset Management Co’s portfolio.Manufacturers Life Insurance Company The boosted its stake in DFS in the latest quarter, The investment management firm added 274,905 additional shares and now holds a total of 1,952,133 shares of Discover Financial Services which is valued at $106.2 Million. Discover Financial Services makes up approx 0.17% of Manufacturers Life Insurance Company The’s portfolio.Blackrock Investment Management reduced its stake in DFS by selling 8,954 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 3,207,568 shares of DFS which is valued at $174.6 Million. Discover Financial Services makes up approx 0.23% of Blackrock Investment Management’s portfolio.Utah Retirement Systems reduced its stake in DFS by selling 3,700 shares or 4.67% in the most recent quarter. The Hedge Fund company now holds 75,591 shares of DFS which is valued at $4.1 Million. Discover Financial Services makes up approx 0.11% of Utah Retirement Systems’s portfolio.

Discover Financial Services opened for trading at $54.68 and hit $55.15 on the upside on Friday, eventually ending the session at $54.93, with a gain of 0.90% or 0.49 points. The heightened volatility saw the trading volume jump to 24,40,120 shares. Company has a market cap of $22,644 M.

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. Discover Financial Services was Downgraded by Macquarie to ” Neutral” on May 11, 2016. 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 (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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