Burney Co Lowers stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Burney Co reduced its stake in Discover Financial Services by 0.95% during the most recent quarter end. The investment management company now holds a total of 440,612 shares of Discover Financial Services which is valued at $29,388,820 after selling 4,246 shares in Discover Financial Services , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Discover Financial Services makes up approximately 2.05% of Burney Co’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co reduced its stake in DFS by selling 32,346 shares or 23.66% in the most recent quarter. The Hedge Fund company now holds 104,357 shares of DFS which is valued at $6,960,612. Discover Financial Services makes up approx 0.29% of Paloma Partners Management Co’s portfolio.Btc Capital Management boosted its stake in DFS in the latest quarter, The investment management firm added 3,529 additional shares and now holds a total of 54,278 shares of Discover Financial Services which is valued at $3,087,875. Discover Financial Services makes up approx 0.65% of Btc Capital Management’s portfolio.Trust Co Of Vermont reduced its stake in DFS by selling 38 shares or 6.75% in the most recent quarter. The Hedge Fund company now holds 525 shares of DFS which is valued at $29,169.

Discover Financial Services opened for trading at $65.73 and hit $66.78 on the upside on Monday, eventually ending the session at $66.24, with a gain of 0.35% or 0.23 points. The heightened volatility saw the trading volume jump to 25,23,883 shares. Company has a market cap of $26,125 M.

On the company’s financial health, Discover Financial Services reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $1.47. The company had revenue of $2301.00 million for the quarter, compared to analysts expectations of $2269.22 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Wedbush Initiated Discover Financial Services on Oct 11, 2016 to “Neutral”, Price Target of the shares are set at $63.

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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