Sage Financial Group Inc adds Discover Financial Services (DFS) to its portfolio

Discover Financial Services (DFS) : Sage Financial Group Inc added new position in Discover Financial Services during the most recent quarter end. The investment management firm now holds 959,043 shares of Discover Financial Services which is valued at $54,339,376 , the company said in a statement filed on Jul 25, 2016 with the SEC.Discover Financial Services makes up approximately 14.02% of Sage Financial Group Inc’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in DFS by selling 2,614 shares or 31.06% in the most recent quarter. The Hedge Fund company now holds 5,803 shares of DFS which is valued at $328,798. Discover Financial Services makes up approx 0.01% of Huntington National Bank’s portfolio.Robeco Institutional Asset Management B.v. boosted its stake in DFS in the latest quarter, The investment management firm added 65,619 additional shares and now holds a total of 100,976 shares of Discover Financial Services which is valued at $5,714,232. Discover Financial Services makes up approx 0.04% of Robeco Institutional Asset Management B.v.’s portfolio.Capital Advisors Ltd. boosted its stake in DFS in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 550 shares of Discover Financial Services which is valued at $31,191. Discover Financial Services makes up approx 0.01% of Capital Advisors Ltd.’s portfolio.

Discover Financial Services closed down -0.04 points or -0.07% at $56.84 with 16,95,560 shares getting traded on Friday. Post opening the session at $56.68, the shares hit an intraday low of $56.12 and an intraday high of $57.08 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Investors should note that on Jul 14, 2016, Discover Financial Services announced a cash dividend of $0.3000. The company’s management has announced Aug 2, 2016 as the ex-dividend date and fixed the record date on Aug 4, 2016. The payable date has been fixed on Aug 18, 2016.

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 was Downgraded by Macquarie to ” Neutral” on May 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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