Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Discover Financial Services (NYSE:DFS) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,046 shares of the financial services provider’s stock after acquiring an additional 2,071 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Discover Financial Services were worth $1,625,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Hanseatic Management Services Inc. bought a new stake in Discover Financial Services in the second quarter worth about $157,000. Calamos Advisors LLC raised its position in Discover Financial Services by 1.7% in the second quarter. Calamos Advisors LLC now owns 257,301 shares of the financial services provider’s stock worth $19,964,000 after acquiring an additional 4,184 shares during the period. Prudential PLC raised its position in Discover Financial Services by 1.4% in the second quarter. Prudential PLC now owns 309,030 shares of the financial services provider’s stock worth $24,104,000 after acquiring an additional 4,356 shares during the period. AE Wealth Management LLC bought a new stake in Discover Financial Services in the second quarter worth about $343,000. Finally, First Trust Advisors LP raised its position in Discover Financial Services by 8.7% in the first quarter. First Trust Advisors LP now owns 857,450 shares of the financial services provider’s stock worth $61,016,000 after acquiring an additional 68,369 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.
DFS has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Monday, September 9th. Morgan Stanley set a $97.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Co reiterated a “hold” rating on shares of Discover Financial Services in a research note on Monday, October 14th. Nomura lifted their target price on shares of Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, UBS Group lifted their target price on shares of Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.53.
NYSE:DFS traded down $0.29 during mid-day trading on Friday, hitting $78.94. 1,456,491 shares of the stock traded hands, compared to its average volume of 1,775,134. The business’s 50-day moving average price is $80.65 and its 200 day moving average price is $79.82. The company has a market cap of $25.12 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.16 and a beta of 1.61. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $92.98. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.11 by $0.21. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. Discover Financial Services’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.91 earnings per share. Analysts anticipate that Discover Financial Services will post 9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.23%. Discover Financial Services’s dividend payout ratio is currently 22.59%.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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