Robeco Adjusts Stake in Discover Financial Services (NYSE ) Amid Institutional Activity

November 06, 2024 11:47 AM PST | By Team Kalkine Media

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Robeco Adjusts Stake in Discover Financial Services (NYSE ) Amid Institutional Activity — Image source: Shutterstock

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Headlines

Robeco Institutional Asset Management adjusts its position in Discover Financial Services.

Multiple institutional investors shift their shares in Discover Financial Services.

Discover Financial Services sees broad investment activity across hedge funds and asset managers.

Robeco Institutional Asset Management B.V. recently made adjustments to its position in Discover Financial Services (NYSE). The firm reduced its holdings in Discover Financial Services by a small percentage during the third quarter, according to its latest filing with the Securities and Exchange Commission (SEC). After selling a portion of its shares, Robeco Institutional Asset Management now holds approximately 0.11% of Discover Financial Services, retaining a significant stake in the financial services provider.

Other institutional investors have also made strategic changes in their positions with Discover Financial Services recently. Inlet Private Wealth LLC increased its position in Discover by a slight percentage in the third quarter, maintaining a notable number of shares. Similarly, First Trust Direct Indexing L.P. marginally boosted its holdings, reflecting continued confidence in Discover Financial Services. J.Safra Asset Management Corp also increased its stake in Discover during the second quarter, showing increased interest from diverse asset managers.

Further, Pinnacle Bancorp Inc. expanded its position significantly in Discover Financial Services in the recent quarter, while UMB Bank n.a. raised its stake in the company slightly over the past few months. These adjustments suggest a dynamic interest among various hedge funds and institutional investors, who currently account for a substantial percentage of Discover Financial Services’ ownership.

Discover Financial Services, a prominent name in financial services, has consistently attracted institutional interest. These recent investment activities highlight a wide-ranging engagement from asset management firms, indicating the company’s continued relevance in the financial sector.

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