Clear Harbor Asset Management LLC Decreased Stake in Discover Finl Svcs (DFS) as Stock Value Declined

April 17, 2018 - By Darrin Black

Discover Financial Services (NYSE:DFS) LogoInvestors sentiment increased to 0.87 in 2017 Q4. Its up 0.10, from 0.77 in 2017Q3. It improved, as 51 investors sold DFS shares while 266 reduced holdings. 99 funds opened positions while 176 raised stakes. 296.68 million shares or 1.53% less from 301.28 million shares in 2017Q3 were reported. Meiji Yasuda Life Insur Co has 0.29% invested in Discover Financial Services (NYSE:DFS). Comm National Bank & Trust has 0.01% invested in Discover Financial Services (NYSE:DFS) for 14,803 shares. Tocqueville Asset Mgmt Ltd Partnership holds 0.1% of its portfolio in Discover Financial Services (NYSE:DFS) for 117,069 shares. Natixis holds 9,682 shares. Highvista Strategies Llc has 0.08% invested in Discover Financial Services (NYSE:DFS). Sun Life Fin holds 797 shares. The United Kingdom-based Hermes Invest Management Ltd has invested 0.01% in Discover Financial Services (NYSE:DFS). Banque Pictet Cie Sa has invested 0.15% in Discover Financial Services (NYSE:DFS). Cap Finance Advisers Limited accumulated 59,219 shares or 0.04% of the stock. Peoples Services stated it has 136 shares. Adirondack holds 0.03% of its portfolio in Discover Financial Services (NYSE:DFS) for 484 shares. Glg Partners Lp invested 0% in Discover Financial Services (NYSE:DFS). Westpac holds 0.04% of its portfolio in Discover Financial Services (NYSE:DFS) for 23,662 shares. Putnam invested in 271,288 shares or 0.05% of the stock. 1.25M were reported by Ubs Asset Management Americas.

Clear Harbor Asset Management Llc decreased its stake in Discover Finl Svcs (DFS) by 92.45% based on its latest 2017Q4 regulatory filing with the SEC. Clear Harbor Asset Management Llc sold 94,697 shares as the company’s stock declined 8.95% with the market. The institutional investor held 7,728 shares of the consumer services company at the end of 2017Q4, valued at $594,000, down from 102,425 at the end of the previous reported quarter. Clear Harbor Asset Management Llc who had been investing in Discover Finl Svcs for a number of months, seems to be less bullish one the $25.45 billion market cap company. The stock increased 0.59% or $0.42 during the last trading session, reaching $71.98. About 1.07 million shares traded. Discover Financial Services (NYSE:DFS) has risen 5.15% since April 17, 2017 and is uptrending. It has underperformed by 6.40% the S&P500.

Analysts await Discover Financial Services (NYSE:DFS) to report earnings on April, 24. They expect $1.83 EPS, up 27.97 % or $0.40 from last year’s $1.43 per share. DFS’s profit will be $647.01M for 9.83 P/E if the $1.83 EPS becomes a reality. After $1.55 actual EPS reported by Discover Financial Services for the previous quarter, Wall Street now forecasts 18.06 % EPS growth.

Discover Financial Services (NYSE:DFS) Ratings Coverage

Among 24 analysts covering Discover Financial Services (NYSE:DFS), 14 have Buy rating, 1 Sell and 9 Hold. Therefore 58% are positive. Discover Financial Services had 37 analyst reports since October 25, 2017 according to SRatingsIntel. The firm has “Overweight” rating by Barclays Capital given on Thursday, January 25. The firm has “Overweight” rating by Barclays Capital given on Thursday, March 29. JP Morgan maintained Discover Financial Services (NYSE:DFS) on Thursday, January 25 with “Neutral” rating. The stock of Discover Financial Services (NYSE:DFS) earned “Buy” rating by RBC Capital Markets on Monday, January 8. The rating was upgraded by Barclays Capital on Monday, December 11 to “Overweight”. The stock has “Market Perform” rating by Wells Fargo on Thursday, January 25. On Monday, December 11 the stock rating was maintained by Wedbush with “Buy”. Jefferies maintained Discover Financial Services (NYSE:DFS) rating on Wednesday, January 10. Jefferies has “Buy” rating and $91.0 target. Barclays Capital maintained it with “Equal-Weight” rating and $73 target in Wednesday, October 25 report. On Monday, December 18 the stock rating was upgraded by Bank of America to “Buy”.

Discover Financial Services (NYSE:DFS) Institutional Positions Chart

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