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Asset Management One Co. Ltd. trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,764 shares of the financial services provider’s stock after selling 3,136 shares during the period. Asset Management One Co. Ltd.’s holdings in Discover Financial Services were worth $11,707,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of DFS. Legal & General Group Plc raised its position in shares of Discover Financial Services by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 2,311,805 shares of the financial services provider’s stock worth $218,651,000 after purchasing an additional 116,693 shares during the last quarter. First Trust Advisors LP raised its position in shares of Discover Financial Services by 489.5% during the 1st quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock worth $220,307,000 after purchasing an additional 1,660,180 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Discover Financial Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,975,544 shares of the financial services provider’s stock worth $179,614,000 after purchasing an additional 43,921 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Discover Financial Services by 51.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,636,711 shares of the financial services provider’s stock worth $154,801,000 after purchasing an additional 554,438 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Discover Financial Services by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,617,136 shares of the financial services provider’s stock worth $178,193,000 after purchasing an additional 27,302 shares during the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on DFS shares. Barclays downgraded Discover Financial Services from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $115.00 to $120.00 in a research report on Friday, January 6th. Citigroup boosted their price target on Discover Financial Services from $113.00 to $118.00 in a report on Tuesday. StockNews.com began coverage on Discover Financial Services in a report on Wednesday, October 12th. They issued a “hold” rating for the company. BMO Capital Markets cut their price target on Discover Financial Services from $119.00 to $111.00 and set a “market perform” rating for the company in a report on Friday, January 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Discover Financial Services from $113.00 to $109.00 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $118.57.
Insider Activity
In other news, Director Michael H. Moskow sold 1,291 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $105.10, for a total value of $135,684.10. Following the sale, the director now owns 51,596 shares in the company, valued at approximately $5,422,739.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.
Discover Financial Services Stock Performance
NYSE:DFS opened at $114.69 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.08 and a quick ratio of 1.26. The firm has a 50-day moving average of $103.71 and a two-hundred day moving average of $101.61. The stock has a market cap of $31.34 billion, a P/E ratio of 7.40, a PEG ratio of 1.45 and a beta of 1.41. Discover Financial Services has a 1-year low of $87.64 and a 1-year high of $129.12.
Discover Financial Services (NYSE:DFS – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.19. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Discover Financial Services had a net margin of 28.89% and a return on equity of 33.21%. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.64 EPS. On average, research analysts expect that Discover Financial Services will post 14 earnings per share for the current fiscal year.
Discover Financial Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Thursday, February 23rd will be paid a $0.60 dividend. The ex-dividend date is Wednesday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.09%. Discover Financial Services’s dividend payout ratio (DPR) is presently 15.49%.
Discover Financial Services Company Profile
(Get Rating)
Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.
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